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Author Topic: Naira continues to depreciate against dollar as forex crisis worsens  (Read 6772 times)

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Offline bellanaija

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Naira continues to depreciate against dollar as forex crisis worsens
« on: October 27, 2023, 09:07:38 AM »
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The naira continued its downward trend against the dollar at the official and parallel foreign exchange market on Thursday.

According to FMDQ, the naira exchanged at N837/$1 on Thursday, a marginal increase from the N802/$1 traded on Wednesday.

Similarly, in the parallel market, the country’s currency also depreciated.


According to a Bureau De Operator in Zone 4 Abuja, Dayyabu Mistila, Nigerians bought Naira at N1,250/$1 on Thursday, a N50 increment from the 1200/$1 on Wednesday.

On Monday, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, said Nigeria is expecting a $10 billion inflow to stabilise the naira.

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