Business & Economy
BREAKING: Naira Falls To Four-Month Low Against Dollar

Naira has fallen to a four-month low against the dollar.
The currency which opened trading at N416.50 closed at N420.00 to a dollar at the close of business on Thursday, data published by FMDQ, where forex is officially traded showed.
This represents a N1.25 or 0.30 per cent devaluation from N418.75 it traded in the previous market session on Wednesday.
The naira hovered within an intraday high of N412.38 and slipped to a low of N444.00 before closing at N420.00 per $1 on Thursday.
This is the weakest rate the naira exchanged officially with the dollar in nearly five months after closing at N422.67 to a dollar on January 5, early this year.
Within the past four months, the currency has been trading between the range of N417.00-N419.00 and above mark before settling at N420.00 at the close of sales Thursday.
Forex supply jumped by 38.20 per cent with $160.00 million recorded at the close of business on Thursday against the $115.78 million posted in the previous session Wednesday.
Similarly, the local currency pushed towards N600.00 to a dollar at the parallel market on Thursday.
Uyo currency dealers exchanged the naira at N592.00 and sold N596.00 to a dollar, while Abuja black market dealers at Wuse Zone 4 said the currency was exchanged at N590.00 and sold at N593.00 per $1 on Thursday.
-
News14 hours ago
Breaking: FG Orders Indefinite Closure Of Abuja Market Over Commercial Bikers/Traders’ Clash
-
News15 hours ago
RCCG reveals what Nigerians are doing that’s inviting poverty into their lives
-
News15 hours ago
Police arrests kidnappers of Greenfield University students
-
News15 hours ago
Insecurity: APGA gives governor Soludo fresh order over Anambra terrorists
-
Business & Economy12 hours ago
Black Market Dollar To Naira Exchange Rate Today 19 May 2022
-
Business & Economy12 hours ago
CBN Issues Guidelines For Open Banking In Nigeria To Enhance Financial Services
-
News12 hours ago
Nigerian Newspaper Headlines & Naija News Today, Thursday 19th May 2022
-
Jobs12 hours ago
Latest NPower News For Today Thursday, 19 May 2022