Latest News
Naira falls against dollar at official market
Nigeria’s naira fell against the U.S. dollar at the I&E window of the foreign exchange market on Friday, data posted on the FMDQ Security Exchange where forex is officially traded showed.
However, the currency rate remained unchanged on the black market.
This happened as foreign exchange supply depreciated significantly.
According to data posted on the FMDQ Security Exchange where forex is officially traded, the naira closed at N411.00 at the trading session of the NAFEX window.
The last time the currency touched N411.00 was on April 7.
Thursday’s performance represents a 0.5 devaluation from N410.50, the rate at which the naira closed on Thursday.
Naira saw an intraday high of N393.00 and a low of N437.62 before closing at N411.00 on Friday.
This occurred as forex turnover decreased by 47.04 per cent, with $61.52 million recorded as against the $116.16 million posted in the previous session on Thursday.
Meanwhile, the local unit remained unchanged against the U.S. dollar at the unofficial market on Friday, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.
Latest update on fuel price hike, fuel scarcity for November 22nd, 2024
Full List of 80,000 delisted companies published by CAC
Amended NDLEA Act: Senate approves life imprisonment for drug traffickers, rejects death penalty
Monday Odigie steps down as Bendel Insurance coach
Lewandowski reflects on missed Manchester United transfer
Okoye reflects on Super Eagles return after two years
Probe panel: Ortom defeats Benue state govt at appeal court
Police take action over murder of lawyer Mark Ofikwu in Otukpo
BREAKING: Reps reject bill proposing six-year single tenure for president, governors
BREAKING: Senate approves Tinubu’s ₦1.77 Trillion loan request to address 2024 Budget deficit
Finland arrests Simon Ekpa, four others over terrorism financing