Business
Naira weakens against Dollar at official market
The Naira continued its poor performance in the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Tuesday, March 28.
Data from FMDQ securities showed that Naira depreciated against the Dollar by 25 Kobo or 0.05 per cent to settle at N461.75/$1 compared with Monday’s closing price of N461.50/$1.
However, in the black market, the Nigerian currency solidified its value against the American currency during the session by N2 to quote at N743/$1, in contrast to the N745/$1 it was exchanged in the preceding session.
READ ALSO: Naira scarcity: NLC, TUC extend strike ultimatum by two weeks
Similarly, the local currency gained N1 against the greenback yesterday in the peer-to-peer (P2P) segment of the forex market to N767/$1 versus Monday’s value of N768/$1.
But in the interbank segment of the FX market, CBN data showed the Naira weakened against the Pound Sterling on Tuesday by N2.84 to settle at N565.51/£1 compared with the previously traded rate of N562.67/£1.
While against the Euro, it lost N2.21 to finish at N496.66/€1 versus Monday’s closing rate of N494.45/€1.
-
Football4 days agoXabi Alonso targets Arda Guler as Chelsea prepare €100m transfer bid
-
Football4 days agoFIFA confirms Jay-Jay Okocha holds World Cup record
-
Editorial Opinion1 week agoUnder the Uniform: The urgent need for mental health, substance abuse screening for officers
-
Politics4 days agoAmuwo Odofin: Umeadi emerges winner of NDC Reps Primary
-
Aviation4 days agoInside Airport Luggage Theft: Experts warn of rising insider syndicates
-
Business3 days agoDangote cuts petrol, diesel prices again to boost affordability, economic activity
-
Latest6 days agoTinubu’s daughter decries alleged irregularities in Lagos APC primaries (Video)
-
Featured1 week agoEx-Police chiefs’ governorship bids spark debate over source of political funding