Hotmedia
ECONOMYBUSINESSLATEST

US Dollar Crashes As Naira Appreciates To N740/$ At Black Market

For the first time in this month, November 2022, the Nigerian currency, Naira has appreciated significantly against the US dollar at the parallel section of the foreign exchange market.

Bureaux De Change (BDC) operators who spoke to Economic Confidential in Abuja said they now sell the naira at N740 to a dollar this Thursday evening.

The figure represents a gain of N145 compared to the N885 it traded on Monday.

Meanwhile, the Central Bank of Nigeria (CBN) has consistently maintained that the parallel market represents less than one percent of foreign exchange (FX) transactions and should never be used to determine the naira’s value.

Read Also : Peter Obi’s Alleged Investment In Anambra Govt Is Worth Nothing – Soludo

An exchange rate of N460 to the dollar was the highest rate recorded within the day’s trading before it settled at N446.10.

The exchange rate between the Naira and the US dollar on the FMDQ Security Exchange the official forex trading portal showed that the Naira opened at ₦444.00 per dollar on Wednesday, November 9, 2022, and closed at ₦445.67 per $1 on Wednesday, November 9, 2022.

Related posts

We Can Amplify Our Voices In So Many Ways Instead Of Killing Ourselves, Jim Iyke Tells Igbos

Hotmedia

Latest: Nine Feared Dead In River State Communal Attacks 

Hotmedia

NFF Drops Osimhen, Dennis, Shehu From New AFCON Squad Of Super Eagles (See New List ) 

Hotmedia

Nigeria’s Monarch Ooni Reveals SolutionTo Secession, Agitations

Hotmedia

Breaking: Ondo Amotekun Intercepts 18 Bandits With 500 Daggers, Guns, Others In 3 Buses

Hotmedia

Enugu Council Election 2022: CSOs Commends Enugu Govt, ENSIEC For Timely, Adequate Preparations For Hitch Free Excise.

Hotmedia

Leave a Comment