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Sunday Update: Naira Continues Devaluation Spree, Suffers Seventh Consecutive Day of Value Loss To US Dollar, Other Major Currencies
Sunday Update: Naira Continues Devaluation Spree, Suffers Seventh Consecutive Day of Value Loss To US Dollar, Other Major Currencies....KINDLY READ THE FULL STORY HERE▶
Written By Oshiobugie John
In an audacious move, the Naira persists in its strategic devaluation against the US Dollar and other major currencies, marking the seventh consecutive day of decline. This notable trend has been consistent since the beginning of the year, exacerbated by the removal of the foreign exchange (FX) subsidy coinciding with President Tinubu’s assumption of office. CONTINUE READING
Despite a surge in foreign exchange during the festive season, fueled by the return of diaspora Nigerians and substantial financial support from Afrexim Bank, the Naira remains alarmingly unstable. Daily fluctuations paint a grim picture of the nation’s financial outlook.
The latest exchange rates underline the Naira’s resolute mission to defy stability:
- 1 USD ⇛ ₦1,233.728
- 1 GBP ⇛ ₦1,523.759
- 1 EUR ⇛ ₦1,302.359
- 1 CAD ⇛ ₦905.090
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