Business
Naira gains slightly against Dollar at official market
Despite the biting dollar crunch, Nigeria’s Naira gained 0.10 per cent against the US Dollar to close at N436.04 compared with the N436.50/$1 it was trading at the spot market on Monday.
Naira appreciation comes as the dollar supply to the Investors and Exporters (I&E) segment of the foreign exchange (forex) market dropped by 16%.
According to FMDQ Securities Exchange data, the total trade on Tuesday stood at $83.71 million from $99.78 million recorded on Monday.
At the black market, the value of the local currency also appreciated to the dollar by N2 or 0.28 per cent to trade at N703/$1 in contrast to N705/$1 on Monday.
While in the interbank segment of the market, the Naira witnessed a downward movement against the Euro to close at N436.48/€1 compared to N435.11/€1 on Monday.
Also against the Pound Sterling, the value of Naira depreciated to N502.95/£1 from N501.36/£1 it exchanged on Monday.
-
Health5 days agoSenate hearing set to review research on COVID-19 vaccines, cancer concerns
-
Comments and Issues1 week agoWhy baby boys outnumber girls at birth
-
Crime4 days agoLASU student dies after armed robbery attack
-
Football7 days agoFIFA confirms 10 key law changes for 2026 World Cup
-
Comments and Issues1 week agoThat savage attack on schools in Oyo state
-
Latest5 days ago2027: North will back Tinubu’s re-election bid, says ex-ACF Secretary-General
-
Latest6 days ago2027: The real reason Jonathan hasn’t accepted PDP ticket—Umar Sani
-
Latest6 days agoCG Musa 4 PBAT’ group declares support for Tinubu’s 2027 ambition, cites strategic leadership