Headlines
Naira loses N79 to dollar
The naira depreciated by N79.88 against the dollar at the official foreign exchange market.
FMDQ data showed that the naira closed at N1,419.11 per US dollar on Monday, compared to N1,339.23 last Friday.
This represents a 5.6 per cent depreciation against the dollar compared to N1339.23 on Friday.
Meanwhile, the naira dropped to N1,280 per dollar at the parallel market section on Monday, compared to N1,300 during the weekend.
The development showed that the gap between the official and parallel markets had increased by N139 per dollar.
Bureau De Change operators had earlier revealed plans to harmonise the retail end of the foreign exchange market as a solution to the recent naira appreciation.
For months, the naira appreciated until recent weeks, when it started recording depreciation against the dollar. Experts had blamed naira speculators, Binance, and other cryptocurrency platforms for the recent woes of Nigeria’s currency.
Source
Disclaimer: No copyright infringement intended. All rights and credits reserved to respective owner(s).
Man, Elisha Allagedly Kills His Girlfriend, Chops Up Her Body In Akwa Ibom
15 EU countries call for the outsourcing of migration and asylum policy
WAFU Cup: Garba vows Golden Eaglets will beat Burkina Faso in Group B opener
Convicted billionaire kidnapper, Evans re-arraigned, opts for plea bargain
47 suspected Boko Haram, ISWAP Terrorist families surrender to MNJTF
Akwa Ibom: Over 150 houses threatened as gully erosion sacks Uyo residents
Cameroon beat Nigeria in opening match
EU debates future regulation of Artificial Intelligence within the bloc
Grassroot Football Teams Pays Congratulatory Visit To Alhaji Salisu Usman Galadima
Burna Boy Bags 4 Nominations On 2023 Soul Train Awards
Nigeria vs Lesotho: Notsi Beef up Squad for Super Eagles
