Naira Weakens Against Dollar to Close Week on a Downward Trend; See Rate to Dollar
Naira Weakens Against Dollar to Close Week on a Downward Trend; See Rate to Dollar
The Naira weakened against the Dollar on Friday in the foreign exchange market, closing the week on a negative trajectory. According to FMDQ data, the Naira fell to N1483.99 per Dollar on Friday, down from N1481.49 on Thursday, marking a depreciation of N2.5.
In the parallel market, the Naira also depreciated, slipping to N1,495 per Dollar on Friday from N1,485 on Thursday.
These declines occurred despite an increase in foreign exchange transaction turnover, which rose to $269.27 million on Friday from $213.31 million on Thursday.
Additionally, on Wednesday, the Nigerian government announced it had received a $925 million disbursement from Afrieximbank as part of a $3.3 billion emergency crude oil repayment loan aimed at stabilizing the nation’s foreign exchange shortage.
TRENDING SONGS
Turaki Moves to Quash Arrest Order Amid PDP Faction Tensions
Oyo Orders Traders, Drivers to Relocate to Iwo Road Bus Terminal to Ease Traffic
ICPC Tracks Over N21tn in Works Ministry Projects to Strengthen Accountability
CBN Clamps Down on Loan Defaulters, Bars Chronic Borrowers from Banking Services
Senegal to Flaunt AFCON Trophy Despite CAF Ruling, Legal Battle Looms
Over 8,000 Delegates Set for APC Convention as Party Stands Firm on Zoning Formula
Joke Silva Heads Jury as AMVCAs Return for 12th Edition with New Categories
Court Clears Ex-Aviation Minister Stella Oduah in N2.5bn Fraud Case
CBN Scraps Cash Pool Rule for Oil Firms, Signals Fresh FX Market Flexibility
EFCC Seizes Malami’s Abuja Home Amid Ongoing Legal Battle
Share this post with your friends on 
