Tag
NAIRA
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 gained against the dollar on Wednesday, 31st January 2024 at the official market after it plunged to a record low of N1,482.57 per dollar the previous day.
Some capital market operators have cautioned that quoted companies burdened with foreign liabilities or heavily dependent on imported inputs could face a downturn in 2023 dividend payouts to their shareholders.
Naira continued its free fall on Tuesday, sinking to a record low of N1,482.57 per dollar following strong demand on the official market, also known as NAFEM.
Naira on Monday fell to a record low of N1,348.63 per dollar following strong demand on the official market, also known as NAFEM market.
Naira gained against the dollar on Friday, 26th January 2024 at the official market but closed flat at the black market.
Naira further tumbled against the dollar on Thursday, January 25th, 2024, in both the official and black markets.
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.
Forex turnover dropped by 3.18% to $56.60 as the Nigerian naira tumbled against the dollar marginally on Wednesday, January 24th, 2024, in both the official and black markets.
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.
The Nigerian naira further declined against the dollar on Monday, January 22nd, 2024, in both the official and black markets.