The nation’s troubled currency, the naira, again recorded a loss at the official and parallel markets where it closed at the Nigerian Autonomous Foreign Exchange (NAFEM) at N1,598/$1 and plunged further at the parallel market to N1,730/$1.
The parallel market on Monday, saw the naira plunge to N1,730, falling by N130 from what it exchanged at the weekend compared to N1,600/$1 it exchanged on Friday.
The naira at the official NAFEM window also recorded decline as it closed at N1,598.54, a N100.29 depreciation compared to N1,498.25 it recorded on Friday.
Furthermore, the official window recorded a daily turnover of $66.43 million on Monday compared to the $84.1 million it recorded on Friday indicating a 20.98 per cent decline.
The highest spot rate recorded on Monday was N1,712/$1 while the lowest spot rate recorded was N1,100/$1.
Nume Ekeghe
Follow us on:
Gbadebo Rhodes-Vivour has condemned the commercialisation of GMO seeds, warning of threats to Nigeria’s food…
Oleksandr Usyk has secured victory over Tyson Fury in Riyadh, successfully defending his heavyweight championship…
Albania plans a one-year TikTok ban from January after a schoolboy’s death sparks concerns over…
A suspect accused of killing five people by driving into a crowded Christmas market in…
A US Navy F/A-18 Hornet was mistakenly shot down over the Red Sea by the…
NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery…