Tag
DOLLAR
The Naira experienced a notable depreciation against the US dollar on February 21, 2024, peaking at an intra-day high of N1,755.
The Naira on Wednesday experienced a significant depreciation, reaching a record low of N1,830 per dollar in the parallel market, commonly referred to as the black market.
The foreign exchange turnover saw a significant rise of 76.61% to $117.32 million, coinciding with naira's strengthening against the dollar.
The Naira experienced a sharp depreciation against the US dollar on February 19, 2024, reaching an intra-day high of N1,712.
The Naira experienced a decline against the US Dollar in the official market, closing the week at N1,537.96/$1, amidst persistent demand pressures that continued to undermine the currency's value.
The Naira has reached a historic peak against the US dollar, hitting N1,607 in intra-day trading on February 15, 2024.
The intra-day high reached a peak of N1,582 against the US dollar on Wednesday, accompanied by a notable decline in forex turnover, which fell by 56.58% to $117.87 million.
The forex turnover witnessed a notable increase of 202.97%, reaching $271.50 million, as the Nigerian naira made gains against the dollar in the official market on Tuesday, February 13th, 2024.
The Naira strengthened against the dollar in the official market, to close the week at N1,469.97/$1 as the ongoing demand pressure continued to erode the value of Nigeria's currency.
Forex turnover dropped by 56.17% to $203 million as the Nigerian naira gained against the dollar marginally on Wednesday, February 7th, 2024 at the official market.
The intra-day high between the naira and dollar sold for N1,519/$1 on Tuesday as forex turnover dropped by 20.26% to $465.29 as the Nigerian naira dropped against the dollar marginally on Tuesday, February 6th, 2024, in the official market.
Nigeria's burgeoning interest in cryptocurrency assets is being fueled by its strong need for US dollars, as evidenced by the high interest for stablecoins according to Google search statistics.