English>

Market News

Naira continues depreciation streak against dollar despite CBN policy - DAILY POST

JULY 03, 2024

The Naira has continued its depreciation streak against the dollar in the foreign exchange market despite the Central Bank of Nigeria’s policy interventions.

FMDQ data showed that the Naira slightly depreciated to N1509.45 against the dollar on Tuesday from N1508.99 traded on Monday.

This represents a marginally N0.46 loss compared to the N1508.99 per dollar it traded on Monday.

Meanwhile, at the parallel market, the Naira traded flat against the dollar at N1515 on Tuesday.

This is as the foreign exchange transactions turnover at the official FX market stood at $213.31 million on Tuesday.

The development comes after the Central Bank of Nigeria in a circular signed by its acting Director of Currency Operations Department, Solaja Olayemi warned banks and licensed Bureau De Change operators against the rejection of lower or old denomination of Dollar notes.

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics