Business
Naira falls against Dollar, Euro others at official market
Data from Investors and Exporters (I&E) forex window, Nigeria’s official window shows that Naira fell to the dollar and quoted N441.83, which was higher than N440.67 quoted on Wednesday.
Most currency dealers who participated at the FX auction on Wednesday maintained bids between N435.00 (low) and N442.00 (high) per dollar.
Similarly, at the black market, Naira fell to the dollar to close at N721.46 on Thursday compared to N716.82 the previous day.
READ ALSO: How crude theft is fueling Naira instability at FX market
The nation’s currency also fell on Thursday to the pounds to N807.394 from N805.64 a day earlier. While against the Euro, Nigerian currency dropped in value to N713.05 from N710.08.
According to data obtained from the FMDQ, Dollar supply through the daily foreign exchange market turnover declined by 47.20 percent to $64.80 million on Thursday from $95.39 million recorded on Wednesday.
The drop in dollar supply consequently increased pressure and reversed Naira’s gains on Tuesday. It was the same fate for Naira against the British pound and Euro.
-
Sports3 days agoSenegal opens Dakar 2026 Youth Olympic Games, Africa’s first Olympic event
-
Latest5 days agoTinubu endorses Nigeria’s participation in 2026 World Travel Market London
-
Football4 days agoU-17 Women’s World Cup: Flamingos Beat Mexico to Reach Quarter-Finals
-
News1 week agoRugby: Borthwick Faces Key Selection Questions as World Cup Looms
-
Latest3 days agoNetanyahu, Eisenkot face coalition deadlock as Israel struggles to form new government
-
Business3 days agoNNPC’s N66-per-litre petrol discount set to end October 31
-
Featured4 days agoHow court ruling reshapes APC’s Imo West Senatorial contest
-
Crime1 week agoPassengers feared abducted on Kebbi-Abuja journey as viral video shows armed men threatening captives (VIDEO)