Nigerias currency, the naira, on Wednesday experienced a decline in the official market while it remained stable in the parallel market.
At the Nigerian Autonomous Foreign Exchange (NAFEM) window, it closed at N1,421.06/$1, marking a depreciation of N4.49 compared to the previous rate of N1,416.57/$1 on Tuesday.
Meanwhile, the parallel market closed at N1,450/$1, stable as the previous day.
The daily turnover recorded an increase in transactions of 2.47 per cent, to $164.74 million on Wednesday compared to the $160.77 million recorded on Tuesday.
Furthermore, the highest spot rate observed on Wednesday stood at N1,440, with the lowest spot rate recorded at N1,335.
Nume Ekeghe
Follow us on:
German Consul General Boerner stressed media freedom’s importance, noting Nigeria’s 112th press freedom rank and…
The Federal Executive Council approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework, setting the federal budget at…
Benue State’s Commissioner for Finance has emphasised the need for farming to evolve from a…
Dr. Sani Abdullahi Shinkafi has called for overdue NNPC investigation and forensic audits in the…
Researchers have suggested Sudan’s war death toll may be significantly underreported, indicating a graver humanitarian…
A man detonated explosives near Brazil’s Supreme Court in a suspected suicide bombing, raising concerns…