Business
Naira depreciates further against Dollar at official window
The value of Nigerian currency fell to the U.S dollar after Monday trading activities at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market.
Data from FMDQ securities exchange where Naira is officially traded showed that Naira depreciated by 25 kobo or 0.06 percent to U.S dollar to close at N414.55/$1 compared with N414.30/$1 it traded on Friday.
This happened on the back of a 73.7 percent rise in the demand for forex as participants at the Market on Monday bid for one dollar as high as N444.
FMDQ data showed the value of transactions for the trading session stood at $73.11 million as against the previous session’s turnover of $99.14 million.
However, at the interbank segment of the market, the Nigerian currency recorded no movement against the American currency as it closed flat N411.29/$1 yesterday.
It was a similar scenario at the same window against the Pound Sterling and the Euro as the exchange rate of the Naira remained unchanged at N553.02/£1 and N474.38/€1 respectively.
While at the black-market Naira sold at N565 to a U.S dollar.
-
Latest1 week agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business5 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business5 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business4 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Latest1 week agoOyo APC berates Makinde over call for UN probe into Oriire school rescue
-
Business5 days agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Business5 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts
-
Latest6 days agoKwankwaso calls for renewed North–South-East Political alliance ahead of 2027