The nigerian naira has depreciated against the united states dollar in the official and unofficial forex markets according to data from the fmdq securities exchange, the naira for the naira day dropped in value in the nigerian autonomous foreign exchange market (nafem) to exchange at n1,592.06 $1 on tuesday, august 20, 2024. Bureau de change operators for lagos, nigeria commercial centre, tell bbc pidgin say di naira to dollar exchange rate don worst. as at thursday morning dem no even get dollar to sell, according to.
Published. on. august 21, 2024. by. ogaga ariemu. the naira dropped n27.58 against the dollar at the foreign exchange market between monday and tuesday. this is according to fmdq data between. Rather than devalue the naira, the central bank in 2017 opted to implement one rate for government transactions, pegged to the us dollar, and a weaker, market determined rate for investors and. In currencies, markets. the nigerian currency lingers at n1600 $ in the black market on wednesday morning, despite improved market fundamentals in the country’s fx market and the dollar index trading near its 7 month low. naira short sellers remain unfazed despite the federal government’s recent domestic introduction of dollar bonds to. Despite positive market indicators, the naira exchange rate remains stuck at n1600 per dollar in the black market.
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