Nigeria News

Dollar crashes further against naira

Following the conclusion of the Eid-el-Fitr holidays, the Nigerian Naira has seen a notable appreciation of N60 against the US dollar.

According to Mistila Dayyabu, a Bureau De Change operator, who shared insights with Daily Post on Friday, the Naira now trades at N1,140 per US Dollar in the parallel foreign exchange market, a significant improvement from the N1,200 recorded on Monday.

“We are currently selling at N1,140 per Dollar and buying at N1,135, compared to the pre-holiday rate of N1,200,” Dayyabu stated.

This development occurs merely four days after the Central Bank of Nigeria (CBN) adjusted its FX selling rate to BDCs to N1,101 per dollar, down from the previous N1,251.

The Naira’s consistent gains against the Dollar have been sustained for over a month, a result of the CBN’s efforts to stabilize the currency in the foreign exchange market.

Treasure Orokpo

A multi-talented individual with a passion for diverse fields, Treasure Orokpo is a trained journalist, skilled cook, and AI enthusiast. When she's not uncovering the latest stories, you can find her whipping up culinary creations in the kitchen and entertainment.

Recent Posts

Latest update on fuel price hike, fuel scarcity for November 22nd, 2024

As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…

4 hours ago

Full List of 80,000 delisted companies published by CAC

The Corporate Affairs Commission (CAC) has officially removed companies that failed to file their annual…

4 hours ago

Amended NDLEA Act: Senate approves life imprisonment for drug traffickers, rejects death penalty

The Senate on Thursday agreed with the House of Representatives' recommendation to replace the death…

4 hours ago

Monday Odigie steps down as Bendel Insurance coach

Monday Odigie, the coach of Bendel Insurance Football Club of Benin, has resigned from his…

5 hours ago

Lewandowski reflects on missed Manchester United transfer

Robert Lewandowski has reflected on the time he nearly joined Manchester United in 2012, only…

5 hours ago

Okoye reflects on Super Eagles return after two years

Maduka Okoye has reflected on his first appearance for the Super Eagles in two years.…

5 hours ago