Get Latest Tori News Alert!
Enter your email below.

Delivered by FeedBurner





Hot Stories
Recent Stories

Naira Loses Further at Official Market...See Latest Exchange Rate

Posted by Thandiubani on Thu 07th Oct, 2021 - tori.ng

The local unit performance on Wednesday represents a N0.43 or 0.10 per cent devaluation from N414.30 it exchanged on Tuesday.

 
The Nigerian naira suffered a loss at the official market on Wednesday.
 
Data from FMDQ securities exchange window, also known as the Investor and Exporters (I&E) window where forex is officially traded showed naira closed at N414.73 per $1.
 
The local unit performance on Wednesday represents a N0.43 or 0.10 per cent devaluation from N414.30 it exchanged on Tuesday.
 
However, at the black market in Abuja, dealers exchanged the currency at N565.00 and N568.00 per $1 on Wednesday. This represents a N5.00(N2.00) or 0.90(0.4) per cent devaluation from N570.00 it exchanged on Tuesday.
 
Naira had touched an intraday high of N404.00 and oscillated to a low of N415.20 before closing at N414.73 per $1 on Wednesday.
 
At the black market in Abuja dealers exchanged the currency at N565.00 and N568.00 per $1 on Wednesday. This represents a N5.00 (N2.00) or 0.90(0.4) per cent devaluation from N570.00 it exchanged on Tuesday.

“Like I told you days back, the dollar will crash very soon,” a dealer told PREMIUM TIMES.
 
In Uyo, dealers said the currency exchanged at N578.00 and N580.00 to a dollar due to increased demand they experienced.
 
“We bought at N570.00 and sold at N572.00 per $1 on Tuesday, but today, we sold at N578.00 and even N580.00 at some point because the demand was much and people were selling as they see deemed fit, ” said a dealer who asked not to be named.
 


Top Stories
Popular Stories


Stories from this Category
Recent Stories