Business
Naira falls heavily against dollar at official market
The Nigerian currency, Naira, depreciated heavily against the United States dollars at the official market on Thursday.
After trading activities on Thursday, Data from FMDQ Securities showed that Naira exchanged for the US dollar at N430.25.
This was a N1.5 or 0.34 percent loss when compared to the N428.75 for the last two days.
During the day’s trade, Naira was exchanged for N444/$ dollar. Naira’s poor performance is largely driven by low forex supply to the market.
FMDQ reports that traders exchanged $58.39 million on Thursday compared to $113. 64 million traded on Tuesday.
-
Latest4 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Business3 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Comments and Issues4 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business3 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Featured4 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business5 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Comments and Issues4 days agoDoes it matter to Africa if Nigel Farage comes to Number 10?
-
Latest4 days agoWike says Makinde’s presidential ambition dead on arrival