The naira depreciated against the dollar in the foreign exchange market as trading resumed after the June 12 Democracy Day celebration. FX turnover transactions significantly dropped to $92.68 million.
According to FMDQ data, the naira depreciated marginally to N1476.24 against the dollar on Thursday, down from N1473.66 on Tuesday, marking a loss of N2.58.
Similarly, the parallel market saw the naira depreciate to N1490 against the dollar on Thursday, compared to N1470 on Tuesday.
This depreciation coincides with a sharp decrease in the turnover of foreign exchange transactions, which fell to $92.68 million on Thursday from $385.91 million.
Recall that the naira had appreciated for the second consecutive time against the dollar on Tuesday. Despite the Central Bank of Nigeria’s policy interventions, Nigeria’s foreign exchange market has been experiencing fluctuations since mid-April 2024
A newly promoted officer of the Nigeria Security and Civil Defence Corps (NSCDC), identified only…
President Bola Tinubu promoted Acting Chief of Army Staff Olufemi Olatubosun Oluyede to the rank…
The Federal Government has officially scrapped the contentious 18-year age requirement for admission into tertiary…
The Government of Equatorial Guinea has restricted citizens from using mobile data to download and…
President Bola Tinubu has promoted Acting Chief of Army Staff (COAS) Olufemi Oluyede to the…
The Government of Equatorial Guinea has restricted citizens from using mobile data to download and…
