Business
Naira crashes massively against pounds, hits N1260 per pound
In a concerning financial development, the Nigerian Naira witnessed a substantial depreciation in value against the British Pound on Friday, September 29, 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 1,250 Naira to 1 British Pound for buying and 2,265 Naira to 1 British Pound 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 British Pound 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.
Soaring rice prices threaten Christmas celebrations for Nigerian families
Panic as Stage collapses during Odumodublvck’s performance at Lagos concert
2025 Budget: FG allocates ₦6.36bn for renovation of Tinubu, Shettima’s official quarters
Black Market Dollar to Naira Exchange Rate Today 22nd December 2024
NNPC debunks shutdown rumors, confirms fuel loading at Port Harcourt Refinery
‘We have to find a way’ – Guardiola laments after defeat to Aston Villa
Usyk beats Fury in heavyweight rematch
Southampton name Ex-Roma boss, Ivan Juric as new manager
EPL: Jesus double leads Arsenal’s five-goal rout against Crystal Palace
27 feared dead in Stampede at Christmas rice distribution event in Anambra
Tinubu honours Abuja, Anambra stampede victims, cancels all Lagos events
