BYBIT -

Naira depreciates against dollar at official market as speculators resume hoarding

April 23, 2024 by Francis Abel

The naira fell in value against the US dollar to N1,234 in the official foreign exchange market on Monday, according to statistics from the FMDQ securities exchange. The currency rate indicates that the naira decreased by N65, or 5.26 percent, from N1,169.99/$1 recorded on Friday. The local currency had strengthened to about N1,072.74 on Wednesday, … Read more

2 crypto platforms mount fresh pressure on Naira

April 21, 2024 by Francis Abel

The Naira appears to be up against a fresh threat from two crypto exchange platforms, just six weeks after the clamp down on Binance operations in Nigeria. The national currency had slumped badly in the forex market in the weeks preceding the clamp down on Binance, exchanging for as much as N1,950 in mid-February. But … Read more