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More Headache For Tinubu, Cardoso, And Wale Edun As Naira Hit New Lows At The Official Market, Trades For N1,534/$1
More Headache For Tinubu, Cardoso, And Wale Edun As Naira Hit New Lows At The Official Market, Trades For N1,534/$1....KINDLY READ THE FULL STORY HERE▶
Written By Oshiobugie John
The official NAFEM market concluded on Monday, February 12th, 2024, with the naira trading at N1,534 against the dollar, marking its weakest performance ever, as reported by Nairametrics. READ FULL ARTICLE HERE
Throughout the day, according to the Financial Literacy Website, the intra-day high and low values hovered around N1,550 and N1,000 respectively, highlighting Nigeria’s ongoing descent amidst central bank reforms aimed at transitioning towards a free market exchange rate.
The total forex turnover for the day amounted to $89 million, representing the lowest figure observed so far in February.
On the parallel market, where trading occurs unofficially, BDC operators offered exchange rates ranging between N1,490 and N1,550.
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