Connect with us

    Hi, what are you looking for?

    E-Financial

    Increased demand for dollar causes Naira to depreciate to 1,420/$

    NAIRA EXCHANGE RATE

    The naira depreciated further on Thursday, April 25, against the United States dollar.

    At the official market, the Naira depreciated to N1,309/$ and N1,420 at the parallel market.

    The new rate which indicates a depreciation of N90 or 6.8 per cent from N1,330 quoted by currency traders on Wednesday, April 24.

    Bureau de change operators blame the depreciation on an increase in the demand for the dollars.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    Metro

    Economic and Financial Crimes Commission has recovered over N5bn and $10m from contractors and government officials indicted in the fraud in the turnaround maintenance...

    Sports

    Chelsea players will donate part of their Club World Cup bonuses to the family of the late Diogo Jota, who died last month aged...

    News

    Federal Government has reacted to the viral video showing a cleric flogging a group of m!nors in Port Harcourt, Rivers State. In a press...

    Business

    Eastman Kodak, once the undisputed king of photography, is staring down a financial lens that could spell the end of its storied existence. In...