Naira depreciates against Dollar over forex scarcity

Naira slumped against the Dollar on Wednesday after closing at 950/$ at the parallel market as the forex crisis persists.

Ahmez Gazali, a Bureau De Change Operator in Wuse Zone 4 Abuja, confirmed the figure to Media Talk Africa on Thursday morning.

Meanwhile, at the official market, the Naira closed at 758.12/$1 on Wednesday from N742.10/$1 on Tuesday, according to FMDQ forex data.

Last week, the Acting Governor of the Central Bank of Nigeria promised to clear the backlog of forex within two weeks.

Media Talk Africa recalls that on June 14, the apex bank floated the Naira at the forex market; however, the country’s currency continued to fluctuate despite the move.

You may also like

Recent News

Physical Intelligence, a hot robotics startup, says its new robot brain can figure out tasks it was never taught

Physical Intelligence AI Model Shows Compositional Generalization in Robotics

Nigerian govt names 48 individuals, groups ‘linked’ to terrorism financing — Daily Nigerian

Jihadists Plan Abuja Airport and Prison Attacks in Nigeria, Says Customs Memo

GenCos dismiss claims Tinubu reduced power sector legacy debt to N2.8tn

Tinubu Dismisses ADC Convention as “Noise Making” and “Rascality”

War on Iran leaves $58 billion repair bill across region – report — RT Business News

Middle East War Damage Costs Could Reach $50 Billion for Oil and Gas Facilities, Rystad Energy Says

Scroll to Top