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Thursday, November 21, 2024
HomeBusinessNaira Slumps Against Dollar to End Week on Negative Note

Naira Slumps Against Dollar to End Week on Negative Note

The naira slumped further against the dollar to end the week on a negative note.

FMDQ data indicated that it fell to N1609.29 per dollar on Friday from N1603.80 on Thursday.

This equates to a N5.49 loss.

Similarly, in the black market, the naira fell to N1,595 per dollar on Friday from N1,590 the previous day.

This indicated that the naira had a negative run against the dollar in the week under review.

The naira recently appreciated against the dollar last week, when the Central Bank of Nigeria intervened in the forex market by selling $106.5 million in FX to authorized dealers.

Sodiq Soda
Sodiq Soda
I’m Sodiq Oluwadamilare Soda, a Web Developer/Web Design also a Graphic Designer.
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