Business
Tuesday Update: Naira Hits New Low, Trades At Unprecedented Rates
Tuesday Update: Naira Hits New Low, Trades At Unprecedented Rates ....KINDLY READ THE FULL STORY HERE▶
Written By Oshiobugie John
In a significant economic development, the Nigerian national currency, the Naira, has undergone a notable devaluation against major foreign currencies, including the US Dollar. This devaluation is linked to recent economic reforms introduced during President Tinubu’s tenure. CONTINUE READING
Despite challenges faced by the US Dollar, the Naira has experienced a substantial depreciation, with the current exchange rates reported as follows:
- 1 USD >>>>> ₦1,229.389
- 1 GBP >>>>> ₦1,506.750
- 1 EUR >>>>> ₦1,287.821
- 1 CAD >>>>> ₦906.316
It is noteworthy that the Naira has not traded at this low against the US Dollar for weeks.
This concerning devaluation prompts apprehensions about its potential impact on the economy and the purchasing power of Nigerian citizens. For comprehensive coverage and updates on this evolving financial situation, stay tuned to our reports.
Source: Bushradiogist
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