Business
Naira Weakens by N8 Against Dollar in Official Market
According to data from the Central Bank of Nigeria’s FX rate, the naira depreciated to N1,540.00 per dollar on Friday, compared to N1,532.00 on Thursday, reflecting a slight decline of N8 at the official market.
EDITOR’S PICKS
- PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC
- Retired Principals Call for Recognition and Better Welfare from Government
- BREAKING: IGP Egbetokun Orders Major Shake-Up, Deploys New AIG to Lagos FCID Annex
EKO HOT BLOG reports that in the black market, the naira fell to N1,660.00 per dollar on Friday, up from N1,640.00 recorded the previous day.
On a weekly basis, the naira registered losses in both markets. As of last Friday, it had closed at N1,535.00 and N1,600.00 per dollar in the official and parallel markets, respectively.
FURTHER READING
- Ensure Available Of Naira Notes Nationwide -Shettima Tasks Banks
- Alleged Mass Killings: NHRC Seeks Justice For Victims
- Federal Government Allocates N700bn for Free Meter Distribution
This depreciation occurs amid ongoing adjustments in the nation’s foreign exchange markets, following the introduction of the Electronic Foreign Exchange Matching System (EFEMS), a mechanism aimed at enhancing transparency in FX transactions.
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
