Tag
NAIRA
The naira fell to a new low on Friday, closing at N927.19 per dollar in the official market and N1165 per dollar in the parallel market.
The naira failed to take advantage of the greenback's worst month despite growing conviction that the United States central bank was done raising interest rates.
The Nigerian naira appreciated against the dollar on Wednesday, 29th November 2023, closing at N831.47/$1 at the official market.
The Nigeria Supreme Court ruled on Wednesday that the Old Naira notes will remain legal tender of the country till further notice.
The Naira lost value on Tuesday, trading at N881.88/$1, down from N814.60/$1 on Monday, according to official data from FMDQ.
The significant foreign exchange losses incurred by MTN Nigeria, attributed to the devaluation of the naira, have exerted an adverse impact on the company's overall profitability and returns.
The intraday high recorded was N1130/$1 as the naira fell against the U.S. dollar at the official but closed flat at the parallel market.
The Naira is currently trading close to its all-time lows. In a little under a year, the Naira has fallen more than 49%.
The Nigerian naira stages a comeback to appreciate massively against the dollar on Friday, 24th November 2023, closing at a new high of N794.89/$1 at the official market.
The naira fell to a new low on Thursday, closing at N956.33 per dollar in the official market and N1165 per dollar in the parallel market.
Forex turnover rose by 61.86% to hit $198.21 million as the naira further crashed against the dollar at both the official market and the parallel market on Wednesday 22nd of November 2023.
The Naira maintained its stability in the crypto market despite the $4.3 million settlement with U.S authorities as it traded within the N1120- 1150 bandwidth against the dollar on Binance.