Would you like to receive notifications on latest updates of the following headlines?

Naira Hits1,380/$ On Parallel Market, Drop To N1,339/$ On Official Window

POSTED ON April 27, 2024 •   Finance      BY Benedicta Bassey
Naira and Dollar currency/ Photo credit: Bussinessday


The Naira on the close of the parallel market appreciated to N1,380/$1 posting a gain of N70 in one single day.

On the other hand, the local currency weakened to N1,339.23/$1 on the Nigerian Autonomous Foreign Exchange (NAFEM) window, representing a N29.42 decline, compared to the N1,309.81/$1 it closed at on Wednesday.

However, daily turnover on the NAFEM declined by 2.85 percent to $309.01 million compared to $318.08 million the previous day.  The highest spot rate stood at N1,410, with the lowest recorded at N1,051.

READ ALSO
Nigeria's 2024 Budget Capital Extension Draws Criticism from Economists
BY Abiodun Saheed Omodara June 25, 2025 0

The Senate and House of Representatives have once again prolonged the implementation of the capital...

READ ALSO
NGX Opens Week Bullish, Gains N279bn Amid Renewed Investor Confidence
BY Abiodun Saheed Omodara June 23, 2025 0

The Nigerian Exchange Limited (NGX) commenced the trading week on a bullish trajectory, adding N279...

READ ALSO
POS Terminals Drive N223tn in Transactions Amid Shift From ATMs
BY Abiodun Saheed Omodara June 23, 2025 0

Point of Sale (POS) terminals processed transactions worth N223.27 trillion in 2024, marking a drama...

READ ALSO
CBN Governor, Finance Minister to Address Allegations Before House Committee
BY Abiodun Saheed Omodara June 15, 2025 0

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, along with the Minister of Finance,...

READ ALSO
FG to Lose $4 Million from World Bank Loan Over Audit Failures
BY Abiodun Saheed Omodara June 10, 2025 0

The Federal Government is anticipated to forfeit $4 million from a World Bank loan due to its failur...

READ ALSO
CBN's Rigid Monetary Policies Threaten Nigeria's Industrialization Efforts
BY Abiodun Saheed Omodara May 22, 2025 0

With the Central Bank of Nigeria (CBN) keeping the benchmark interest rate at 27.5 percent, local ma...

READ ALSO
CBN Holds Interest Rate Steady at 27.50% Amid Inflation Concerns and Economic Recovery Efforts
BY Abiodun Saheed Omodara May 20, 2025 0

ABUJA, Nigeria — The Central Bank of Nigeria (CBN) has once again held its benchmark inte...

READ ALSO
CBN Stresses Commitment to Protecting Financial Interests of Nigerians
BY Abiodun Saheed Omodara May 20, 2025 0

The Central Bank of Nigeria (CBN) has assured the public, depositors, and stakeholders that the Nige...

OUR CHANNELS:

PDP Announces Schedule for National Convention: Revealed Key Dates
BY Abiodun Saheed Omodara August 4, 2025 0

The National Working Committee (NWC) of the People’s Democratic Party (PDP) has announced its...


Tinubu's Spokesperson Accuses Peter Obi of Dishonesty Over Political Promises
BY Abiodun Saheed Omodara August 4, 2025 0

The spokesperson for President Bola Tinubu, Bayo Onanuga, has accused Peter Obi, a former governor o...


Weather Alert: NiMet Cautions against Flash Floods in Northern and Southern Regions
BY Abiodun Saheed Omodara August 4, 2025 0

The Nigerian Meteorological Agency (NiMet) has projected rain and thunderstorms nationwide from Mond...


LG Chairman Champions Seyi Tinubu for Lagos Governorship
BY Abiodun Saheed Omodara August 4, 2025 0

In the quest for a successor to Lagos State Governor Babajide Sanwo-Olu, the chairman of Oshodi-Isol...


Military Dismantles Drug Cartels, Arrests Suspects
BY Abiodun Saheed Omodara August 4, 2025 0

Military officials at the Jaji Military Cantonment in Kaduna State have declared the dismantling of...


Historic Leap for Education: Federal Polytechnic Ilaro Elevated to University Status
BY Abiodun Saheed Omodara August 4, 2025 0

The Olu of Ilaro and the paramount ruler of Yewaland, Oba Kehinde Olugbenle, has praised President B...


SERAP Demands Immediate Reopening of Badeggi FM Amid Claims of Gov. Censorship
BY Abiodun Saheed Omodara August 4, 2025 0

The Socio-Economic Rights and Accountability Project (SERAP) has given Governor Umar Bago of Niger S...


Northern Ex-Lawmakers Divided Over Tinubu's 2027 Re-Election Bid
BY Abiodun Saheed Omodara August 3, 2025 0

Former federal lawmakers from northern Nigeria are sharply divided over President Bola Tinubu’...


SERAP Raises Alarm Over Public Officials' Lack of Accountability
BY Abiodun Saheed Omodara August 3, 2025 0

The Socio-Economic Rights and Accountability Project (SERAP) expressed its concerns on Saturday rega...


Tinubu Calls for Enhanced Regional Integration to Boost West Africa's Economic Competitiveness
BY Abiodun Saheed Omodara August 4, 2025 0

President Bola Tinubu has highlighted the crucial need for enhanced regional integration throughout...


More Articles

Load more...

Menu