Forex shortages have persisted since the crash in oil prices coincided with the global lockdown.
The rise in demand and contrasting drop in supply has called for another round of devaluation...
Forex turnover dropped from $90.88 million on Wednesday, June 24, 2020, to $14.68 million on Thursday, June 25, 2020, representing a decline of 83.8%
Uncertainty of the market remains, particularly due to liquidity shortages across markets.
Forex turnover dropped from $66.61 million on Thursday to $38.12 million on Friday.
The drop in the value of the naira can be attributed to the pressure in the foreign exchange.
Naira to sell at a rate of N451 to $1 at the black market as against N450 to $1 recorded on Monday.
Naira weakened today at the black market as dollar trading at N454 to $1 as demand increased from foreign investors and businesses with dollar payment
Naira continues on its downward slide against major currencies of the world as it dipped further against the US dollar to stand at an average of...
Naira has depreciated to its weakest level since February 2017 at the parallel market, which is also known as the black market.