The Nigerian Naira witnessed a substantial depreciation in value against the American Dollar on Monday, October 9, 2023.
Reports from the financial market indicate that the exchange rate hit alarming levels, severely affecting the purchasing power of the Naira.
At the parallel market, the exchange rate was recorded at an alarming 1009 Naira to dollar for buying and 1002 Naira to 1 naira for selling.
This stark depreciation highlights the economic challenges and volatility faced by Nigeria’s currency in the global market.
The rapid devaluation of the Naira against the dollar raises concerns about the country’s economic stability and its ability to maintain a competitive position in the international market.
Experts and financial analysts are closely monitoring this situation and assessing its potential impact on the Nigerian economy and its citizens.
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.…
