Business
Naira continues positive run against Dollar amidst scarcity
The Naira continued its good run against the US dollar at the official market on Thursday.
Data from FMDQ securities where naira is officially traded showed that in the Investors and Exporters (I&E) wing of the market, the Naira appreciated against the dollar by 7 Kobo or 0.02 per cent to trade at N461.10/$1, in contrast to the previous day’s value of N461.17/$1.
This happened as the value of FX transactions dropped by 27.5 per cent or $15.28 million to $40.24 million from the $55.52 million recorded on Wednesday.
READ ALSO:
However, at the Peer-to-Peer (P2P) window of the market yesterday it dropped by N3 to settle at N763/$1 compared with the previous day’s N760/$1.
Also, in the parallel market, the domestic currency depreciated against its American counterpart by N2 to quote at N751/$1 versus Wednesday’s exchange rate of N749/$1.
In the interbank segment, the local currency fell by N2.37 against the Pound Sterling to settle at N560.24/£1 compared with the previous day’s N557.87/£1 and lost 76 Kobo against the Euro to trade at N496.12/€1 compared with the N495.36/€1 it closed at the midweek session.
-
Latest2 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Featured2 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business3 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Featured3 days agoWike dismisses political speculation over meeting with APC Chairman Yilwatda
-
Latest5 days agoWike loyalists dominate As APC clears 33 aspirants for Rivers Assembly primaries, 65 disqualified
-
Latest2 days agoWike says Makinde’s presidential ambition dead on arrival
-
Business3 days agoNigeria’s 2026 debt servicing hits $11.6bn as Tinubu decries global financial inequity
-
Comments and Issues2 days agoPolitical Parties Primaries: Consensus or Coronation?