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.
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.…
