The naira, at both the official and parallel markets, continued to slide on Tuesday,, despite the sale of the greenback to BDC operators.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Tuesday, the naira closed at N1,300/$, which was a N65.51 decline compared to N1,234.49/$1 it closed on Monday.
Similarly, on the parallel market it weakened to N1,270/$1, compared to the N1250/$1 it exchanged on Monday.
But the daily turnover saw an increase of 21.3 percent, reaching $133.65 million on Tuesday, compared to the $110.17 million recorded on Monday. The highest spot rate observed on Tuesday stood at N1,317, with the lowest spot rate recorded at N1,000
James Emejo and Nume Ekeghe
Follow us on:
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…
President Tinubu has urged enforcement of strict crowd control measures after deadly stampedes in Anambra,…