Business
Naira crashes officially to lowest level in days
The naira fell further by 1.68 per cent against the dollar at the official market on Thursday.
At the Investor & Exporter forex window, the naira opened at 413.15/$1 on Thursday, and closed at 422.07/$1.
The depreciation started Wednesday at 0.19 per cent to 415.10/$1 after closing at 414.30/$1 the day before.
The crash was more serious at the parallel market where the dollar was bought at N565 and sold for N570, according to some operators in the black market.
The Central Bank of Nigeria, however, maintained N410.91/$1 as its official rate on its website.
Many wonder why the local currency still depreciates after the CBN stopped forex sales to the Bureau de Change operators.
-
Business7 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
News5 days agoUK, Canada pledge closer cooperation on trade, defence and AI
-
Business6 days agoTinubu’s economic reforms face public confidence test as cost-of-living crisis persists
-
Business6 days agoDangote: Petrol price gap fuels smuggling as Nigeria faces fresh pump price surge
-
Business4 days agoDangote Refinery IPO: Can small investors really make money from the shares?
-
Comments and Issues5 days agoWavy fuel prices and deepening cost-of-living crises in Nigeria
-
Football4 days agoFULL LIST: Eight stadiums to host 2027 Women’s World Cup in Brazil
-
Latest6 days agoCourt sets 7-day window for Atiku to serve Tinubu in 2027 suit