Naira Ends Week On A Negative Note

July 27, 2024 Prince NEWS 0



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The naira slumped further against the dollar, concluding the week on a negative note.

FMDQ data revealed that it depreciated to N1,609.29 per dollar on Friday, down from N1,603.80 exchanged on Thursday. Read More…

This reflects a loss of N5.49.

Similarly, in the black market, the naira fell to N1,595 per dollar on Friday, down from N1,590 the previous day.

This indicates that the naira experienced a negative trend against the dollar over the past week.

The last time the naira appreciated against the dollar was the previous week when the Central Bank of Nigeria intervened in the FX market by selling $106.5 million to authorized dealers. Continue Reading…

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