Close Menu
OsunDailyNG
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
OsunDailyNGOsunDailyNG
Subscribe
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
OsunDailyNG
Home ยป Naira slumps against US Dollar at forex market
LATEST

Naira slumps against US Dollar at forex market

OsunDailyBy OsunDailyNovember 29, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Naira slumps against US Dollar at forex market
Share
Facebook Twitter LinkedIn Pinterest Email
Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162

Nigeriaโ€™s currency, the Naira, depreciated against the US Dollar again on Tuesday at the foreign exchange market.

Official data from FMDQ disclosed that the Naira depreciated to N881.88/$1 on Tuesday from N814.60/$1 it exchanged on Monday.

This represents a N67.28 depreciation at the official forex market compared to the N793.50 it closed on Friday.

Accordingly, the drop is the second time the Naira slumped against the Dollar at the official market this week.

Similarly, at the parallel market, Naira depreciated, exchanging at N1145/$1 on Tuesday from N1,115/$1 on Monday.

This is a N30 depreciation from the figure it exchanged the previous day.

Meanwhile, Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 50th-anniversary event last week, noted that the fluctuating exchange rate was hampering business growth and promised to be transparent and fair to all as the bank performs its function.

โ€œIโ€™m confident and optimistic that by taking appropriate corrective actions and strategic steps, we can restore macroeconomic stability and address fundamental flaws,โ€ he stated.

Recall that Cardoso had failed to hold a Monetary Policy Committee meeting for the second time since his emergence as the CBN governor in September.

Nigeriaโ€™s FX market has continued to experience a crisis since CBN introduced reforms in June this year.


Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162
dollar Forex Market Naira Slumps
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
OsunDaily
  • Website

Related Posts

Buhari rallies support for Tinubu on second anniversary

May 28, 2025

Anti-Matawalle protests sponsored by Zamfara Govt – APC group

May 10, 2025

Gunmen kill three security personnel during attack on anti-banditry office in Jigawa

March 6, 2025

Comments are closed.

Facebook X (Twitter) Instagram WhatsApp Telegram Threads
  • Home
  • Privacy Policy
  • Advertise with US
  • Contact Us
  • About Us
© 2025 OsunDailyNG Media Hub. Designed by OsunDailyNG Media Hub.

Type above and press Enter to search. Press Esc to cancel.

Join Osun DailyNG Media Hub

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.