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Weakens

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Business

Naira Weakens As Banks’ Dollar Sales Plunge By $252m

Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday. This represents a 74 percent drop from the $331.1m transactions recorded at the official Nigeria Autonomous Foreign Exchange Market on Thursday. Meanwhile, the naira depreciated to N1,537/$ on Friday from N1,498/$ recorded at the close of trading activity on Thursday at the official market. Analysis of data obtained from […]

todayFebruary 19, 2024 3

Business

Naira Weakens At Official Market, Banks Sell $584m

The value of foreign exchange transactions recorded on the official Nigeria Autonomous Foreign Exchange Market has risen to $584m, according to data posted on the FMDQ Exchange on Tuesday. This represents a significant increase from the $440m daily transaction previously recorded on the platform. The development came as the national currency weakened against the United States dollar at the official market on Tuesday. It closed at N1433/dollar, compared to N1419/dollar […]

todayFebruary 7, 2024

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