Naira Returns to Depreciation Against Dollar, Losses N73 in Single Day

Posted by Thandiubani on Fri 17th May, 2024 - tori.ng

FMDQ data showed the Naira dropped to N1533.99 per dollar on Thursday from N1459.02 on Wednesday.

 
The Naira has lost N73 in a single day as it depreciated against the dollar in the foreign exchange market.
 
This is according to date released by FMDQ.
 
The data showed the Naira dropped to N1533.99 per dollar on Thursday from N1459.02 on Wednesday.
 
This represents an N73.98 loss against the dollar on Thursday compared to trading on N1459.02.
 
Similarly, the Naira depreciated to N1555 per Dollar in the parallel market section from N1515 on Wednesday.
 
To address the country’s forex crisis, the Central Bank of Nigeria granted 14 new International Money Transfer Operators, IMTOs Approval-in-Principle (AIP), to double foreign-currency remittance inflows through formal channels.
 
Recall that Bureau De Change operators had blamed the FX shortage for the Naira depreciation.
 
Popular Stories
The Story Of Mobolaji Johnson, The Governor Who Developed Lagos With 10,000 Pounds
Meet Fewa Otedola, The Only Son Of Nigerian Billionaire Femi Otedola
See the Inside of Luxury 160million Pounds Private Mega-yacht Complete with Glass Elevator and Outdoor Cinemas (Photos)
So Hilarious! See Throwback Photos of Nigerian Celebrities Before the Money and Fame
Tragedy as Pastor Fails to Rise From Death After Instructing Members to Bury Him Alive


Copyright © 2022 Tori.ng - All rights reserved
Tori.ng is owned and managed by Cyclofoss Technologies Ltd.