See the Current Value of Naira to Dollar, Today 26th of July
See the Current Value of Naira to Dollar, Today 26th of July
Dollar-to-Naira Exchange Rate Reaches N1,603.80 on Official FX Market
On Thursday, the naira surpassed the N1,600 threshold against the dollar in the official foreign exchange market.
According to FMDQ data, the naira depreciated to N1,603.80 per dollar on Thursday, down from N1,586.71 on Wednesday, marking a N17 loss.
In the black market, the naira also fell further to N1,593 per dollar on Thursday, compared to N1,585 on Wednesday.
Data from both official and parallel foreign exchange markets indicate a continued decline of the naira against the dollar and other foreign currencies.
FIRST CLASS GISTS reports that this marks the fourth consecutive depreciation of the naira against the dollar, despite the Central Bank of Nigeria’s intervention last week.
This situation persists even after the CBN sold $106.5 million FX to authorized dealers last Thursday and Friday amid a surge in demand.
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