Get new posts by email
Menu

Naira appreciates massively against dollar to begin week

Newnaija 4 months ago 0 2
Newnaija.com.ngwp-content/uploads/2024/02/Naira-300×169.jpg 300w” sizes=”(max-width: 900px) 100vw, 900px”>

The Naira strengthened significantly against the dollar at the foreign exchange market on Monday to resume on a good note.

FMDQ data showed that the Naira appreciated to N1552.92 per dollar on Monday from N1641.27 exchange last Friday.

This represents a significant N88.35 appreciation against the dollar on Monday compared to the N1641.27 exchange rate three days ago.

The last time it gained significantly was on Sept 26 last month, when it edged the dollar by N91.32.

Meanwhile, at the black market, the Naira maintained an N1700 per dollar rate the same as last Friday.

For months now, the Naira has continued to experience fluctuations in the FX market despite interventions by the Central Bank of Nigeria.

In October 2024, CBN introduced the Electronic Foreign Exchange Matching System, EFEMS, for foreign exchange transactions in the Nigerian Foreign Exchange Market, NFEM.

Naira appreciates massively against dollar to begin week

Written By

Welcome to NewNaija, your ultimate source for the latest news, entertainment, and lifestyle trends in Nigeria and beyond. Our mission is to provide up-to-date and relevant content that keeps you informed and connected to the pulse of Nigeria. From breaking news and political updates to music, fashion, and tech, NewNaija covers it all with accuracy and speed.

Leave a Reply

Leave a Reply

Your email address will not be published.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

error

Enjoy this blog? Please spread the word :)

Copy link