The Nigerian naira experienced a significant decline in value, losing N64.5 against the US dollar in the foreign exchange market.
According to FMDQ data, the naira depreciated to N1,234.49 per US dollar on Monday, down from N1,169.99 on Friday.
This marks a continued downward trend, as the naira also fell to N1,169.99 per dollar on Friday from N1,154.08 on Thursday.
The parallel forex market saw a similar decline, with the naira falling to N1,200 per dollar on Monday from N1,100 on Friday.
This development comes after the naira experienced three consecutive days of depreciation last week, following a period of gains.
Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring…
Panic erupted on Saturday at a concert in Lagos when the stage collapsed during Odumodublvck’s…
The Federal Government of Nigeria has allocated ₦6,364,181,224 billion for the refurbishment and rehabilitation of…
The black market dollar to naira exchange rate for today, 22nd December 2024, can be…
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that the 60,000 barrels per…
Manchester City finds itself in unprecedented turmoil, with relegation-level form showing little sign of improvement.…
