Connect with us

Dollar hits N600 at parallel market

Victorious

Published

on

Follow
NAIJA NEWS: Dollar hits N600 at parallel market [New Naija News] » Naijacrawl
Photo: Naijacrawl

On Monday, May 16, the dollar was swapped at N600 on the parallel market.



On Monday, currency dealers in Uyo exchanged the Naira for N595.00 and sold it for between N596.00 and N600.00 per dollar, while black market dealers in Abuja's Wuse Zone 4 said the currency was converted for N594.00 and sold for N595.00 per dollar.

The Naira, which commenced trading at N417.30 to a dollar on Monday, May 16, concluded at N421.50 to a dollar at the close of business on FMDQ, where forex is legally exchanged.

Fears of a further devaluation of the national currency have grown as the local currency has depreciated.

Click Here To Comment




Ojo Sunday Victor, A Professional Graphics Designer, and a skilled Content Writer in Entertainment, News and Sport Update.!An Undergraduate in Ladoke Akintola University of Technology (LAUTECH, Ogbomoso). Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Naija News

Naira dips further from N422.71 to N430 per dollar

Victorious

Published

on

NAIJA NEWS: Naira dips further from N422.71 to N430 per dollar [New Naija News] » Naijacrawl
Photo: Naijacrawl
The Naira has continued to decline after it recorded another big fall in the official market on Tuesday, losing 0.9 percent to the dollar.The FMDQ published data at the beginning of trading on Tuesday showed that the Nigerian currency opened at N422.71 but closed at N430.00 to a dollar at the end of the trading window for the day, representing a N4.25 or 0.99 per cent devaluation from N425.75 recorded on the previous market day.The Naira has been undergoing signific...
Continue Reading

Naija News

2023: INEC to Spend half a Billion Dollar on Election

Piroll

Published

on

NAIJA NEWS: 2023: INEC to Spend half a Billion Dollar on Election [New Naija News] » Naijacrawl
Photo: Naijacrawl
In the quest of organizing a credible and fair election during next year's general election, the Independent National Electoral Commission will spend not less than N239.2bn approximately half a billion-dollar on procuring voting materials and vehicles that will be used in the 2023 general election.This is according to the 2023 General Election Project Plan that was launched by INEC in Abuja on Thursday.The commission stated that N239.2bn, which constitutes 78.44 per...
Continue Reading

Naija News

Buhari Multi-Billion Dollar Loan Request Approved By Senate

Piroll

Published

on

NAIJA NEWS: Buhari Multi-Billion Dollar Loan Request Approved By Senate [New Naija News] » Naijacrawl
Photo: Naijacrawl
It was another landmark today at the upper chamber as the Nigerian Senate approved the sum of $16,230,077,718, €1,020,000,000, and a grant of $125,000,000 as foreign loans as requested by President Buhari to fund its legacy projects.The red chamber specifically approved the issuance of €500,000,000 from the Bank of Industries and €750,000,000 Eurobond in the International Capital Market.It asked the President to forward the terms and conditions of the loan from the...
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.