Naira Depreciates Slightly Against Dollar At Official Market

The naira depreciated slightly against the dollar at the official foreign exchange market on Thursday.

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The Central Bank of Nigeria exchange rate data showed that it fell marginally to N1,584.95 per dollar on Thursday from N1,584.49 traded on Wednesday.

This means that the Naira dropped by N0.46 against the dollar on a day-to-day basis.

Advertisement

However, at the black market, the sell rate of Naira to dollar remained flat at N1,625 on Thursday, the same exchange rate recorded Wednesday.

Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4 Abuja, confirmed that the Naira is sold at N1625 per dollar on Thursday.

“We buy at N1615 per dollar and sell at N1625 on Thursday,”

Naira’s fluctuations had persisted despite CBN governor Olayemi Cardoso’s relatively stable Naira stance.

Add a Comment

Leave a Reply

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement