Tag
DOLLAR
The NGX All-Share Index and Market Capitalization appreciated by 1.97% and 2.00% to close the week at 104,421.23 and N57.158 trillion respectively.
Naira gained against the dollar on Friday, 3rd February 2024 at the official market but declined at the black market.
The exchange rate between the naira and dollar closed the month of January at N1,455.59 representing a whopping 37.6% depreciation in one month.
Naira on Thursday fell to a record low of N1,410 per dollar following strong demand on the parallel market, also known as the black market.
Nigeria’s naira is poised for its lowest level at the black market this month as demand-supply equilibrium remains a fantasy.
The intraday high recorded N1336.05/$1 as the Naira gained against the dollar on Tuesday, 23rd January 2024 at the official market.
Nigeria spent about 50% of its dollar payments to service external debts between January and October 2023, a significant portion underscoring the growing burden of foreign debt on the nation's economy.
The Nigerian naira further declined against the dollar on Monday, January 22nd, 2024, in both the official and black markets.
Forex turnover dropped by 17.36% to $145.89 as the Nigerian naira tumbled against the dollar marginally on Friday, January 19th, 2024, in both the official and black markets.
The intraday high recorded N1261/$1 as the Naira gained against the dollar on Thursday, 18th January 2024 at the official market.
Forex turnover rises by 460.52% to $147.81 as the Nigerian naira tumbled against the dollar on Tuesday, January 16th, 2024, in both the official and black markets.
The Nigerian naira weakened against the dollar on Friday, January 12, 2024, at both the official and black market.