The Naira depreciated to a record low of N1,534.39 against the US dollar at the foreign exchange market on Monday.
Data from FMDQ showed that the Naira dropped to N1,534.39 per US dollar on Monday from N1,469.97 on Friday.
This represents a 4.2 per cent or N64.42 depreciation compared to N1,469.97 recorded at the close of trading on Tuesday.
With the development, the Naira is back to the exchange rate it traded on Monday, January 29, when the Central Bank of Nigeria introduced ‘Financial Markets Price Transparency and Market Notice of a Revision to the FMDQ FX Market Rate Pricing Methodology’ and other reforms.
Similarly, at the Parallel Market, Naira increased to N1,495 per Dollar on Monday from N1,490 on Friday.
Meanwhile, the Central of Nigeria governor, Olayemi Cardoso, assured exchange rate stability when he spoke at an interface with the Senate Joint Committee on Banking, Insurance and Financial Institutions in Abuja on Friday.
Welcome Address Delivered at the 2024 Edition of the Judges Workshop at Sheraton Hotel Ikeja,…
The House of Representatives Finance Committee has paid a working visit to the headquarters of…
The Federal High Court in Abuja has dismissed the treason charges brought against the…
What to know about the end of the #USElection2024 campaign The most recent polling analysis…
#US election 2024 Live Updates: What you need to know about USelection2024 latest polls •…
A royal commentator suggests that Prince Harry and Meghan Markle are taking separate paths in…
