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.

Click to comment

Leave a Reply

Your email address will not be published.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

ad

You May Also Like

News

The Economic and Financial Crimes Commission (EFCC) says individuals who invested in Crypto Bridge Exchange (CBEX) a digital trading platform that recently crashed will...

News

Recently, MBA Students of the Sloan Business School, Massachusetts Institute of Technology (MIT) visited MTN Nigeria’s office in Ikoyi, Lagos, for an interactive session...

News

The Economic and Financial Crimes Commission (EFCC) says it has begun an investigation into the alleged N1.3tn fraud perpetrated through a digital investment platform,...

News

A group of angry individuals stormed the CBEX office located in the Oke Ado area of Ibadan, Oyo State, on Monday, looting furniture and...