Business
Naira stays stable against Dollar at official market
Naira exchange at the official market remained unchanged at the Investors and Exporters (I&E) segment of the forex market.
Data obtained from FMDQ securities showed the exchange rate of the Naira to the Dollar after the midweek session stood at N416.50/$1.
Wednesday’s closing rate was the same rate Naira maintained against the US dollar for the past three trading days.
However, the domestic currency continued its depreciation against the British pounds’ sterling and Euro.
The Central Bank of Nigeria‘s currency watch data showed Naira lost against the Pound Sterling at the spot market on Wednesday by N1.54 to settle at N545.26/£1 compared with the preceding day’s N543/£1.
The report also noted that against the Euro, it lost 71 kobo to close at 458.56/€1 in comparison to the preceding session’s N457.85/€1.
Similarly at the black market Naira continued to feel the pressure closing above N585 to a dollar.
-
Football6 days agoBallon d’Or 2026: Yamal, Mbappe, Kane emerge early favourites
-
Football5 days agoPost-World Cup Shake-Up: Managerial changes, record transfers dominate football headlines
-
Football5 days agoWAFCON 2026: Super Falcons target winning start as Nigeria face debutants Malawi
-
Energy4 days agoNigeria wastes enough gas to Ggenerate 62,400GWh of electricity amid deepening energy crisis — NOSDRA
-
Latest1 week agoAccountability group questions ₦962.8bn Allocation for empowerment projects, official vehicles in 2026 budget
-
Business2 days agoCooking gas dealers slash prices amid intensifying market competition
-
Health4 days agoFauci’s personal diaries fuel renewed scrutiny of COVID-19 vaccine safety
-
Business1 week agoThe Productivity Puzzle: Why Nigeria’s economy is growing faster than household prosperity