Nigeria’s troubled currency, the naira on Tuesday experienced a decline in both the official market and the parallel market.
At the Nigerian Autonomous Foreign Exchange (NAFEM) window, it closed at N1,416.57/$1, marking a depreciation of N62.36 compared to the previous rate of N1,354.21/$1 on Monday.
Meanwhile, the parallel market closed at N1,450/$1, representing a decrease of N20 from the previous rate of N1,430/$1 on Monday.
The daily turnover recorded an increase in transactions of 89.5 percent, to $160.77million on Tuesday compared to the $84.83 million recorded on Monday.
Furthermore, the highest spot rate observed on Tuesday stood at N1,445, with the lowest spot rate recorded at N1,301.
Nume Ekeghe
Follow us on:
Elon Musk’s social media platform, X, has named Rachel de Oliveira Conceicao as its legal…
In a surprising turn during the Edo state governorship election, Olumide Akpata, the Labour Party…
The Governor of Ondo state, Mr. Lucky Aiyedatiwa, has vowed to transform the state into…
The Independent National Electoral Commission (INEC) has announced an extension of voting time in areas…
Usher paid tribute to the male role models in his life at the 2024 Black…
The EFCC has arrested three suspects for alleged vote buying during the ongoing Edo governorship…