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Thursday Update: Naira Throws A Grand Parade, Unveils Latest Move In Losing Value Against US Dollar And Other Major Currencies

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Thursday Update: Naira Throws A Grand Parade, Unveils Latest Move In Losing Value Against US Dollar And Other Major Currencies....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie John

In a stunning display of financial prowess, the Naira proudly parades its latest feat – a remarkable and strategic move to lose even more value against the US Dollar and other major currencies. This extraordinary performance comes as no surprise, given the consistent devaluation trend since the beginning of the year, particularly following the removal of the foreign exchange (FX) subsidy coinciding with President Tinubu’s assumption of office. CONTINUE READING

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Despite a notable surge in foreign exchange during the festive season, boosted by the return of diaspora Nigerians, and reports of substantial financial support from Afrexim Bank, the Naira remains in a state of alarming instability, experiencing daily fluctuations that cast a gloomy shadow over the nation’s financial outlook.

Nigeria's Naira Continues To Grapple With Depreciation: Latest Exchange Rate Revealed

The latest exchange rates serve as a vivid testament to the Naira’s audacious mission to defy stability:

  • 1 USD ⇛ ₦1,228.812
  • 1 GBP ⇛ ₦1,512.709
  • 1 EUR ⇛ ₦1,292.914
  • 1 CAD ⇛ ₦898.526
Exchange rate depreciates by 29% to N664.04/$1 at I&E Window

 

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