BREAKING: New Exchange Rate Emerge As Naira Crashes To Worst In Six Months

On Wednesday, September 4, 2024, the naira hit its lowest level in six months at the Nigerian Autonomous Foreign Exchange Market (NAFEM), trading at N1,625.88 to the dollar.

This is the weakest exchange rate since March 8, 2024, when it stood at N1,627.4/$1, despite a notable FX turnover of $205.76 million—one of the highest since August 12, 2024, when turnover reached $246.44 million.

Read Also: Court Takes Fresh Decision On Binance Executive’s Bail

Data from the FMDQ website revealed a 0.89% depreciation from the previous day’s rate of N1,611.34/$1. During the day, the naira fluctuated between a high of N1,640/$1 and a low of N1,400/$1 before stabilizing at N1,625.88.

The $205.76 million turnover represented a slight 1.84% decrease from the previous day’s $209.61 million, the highest since August 12, 2024.

For More Information And News Update, Join Informant Online WhatsApp Channel With Link Below:

https://whatsapp.com/channel/0029VaihFajBadmT29ufud2Z

Related articles

FIRS Begins Recruitment

The Federal Inland Revenue Service (FIRS) has announced job...

IPOB Reacts To Death Of 22 Women In Okija Stampede

The Indigenous People of Biafra (IPOB), through its Directorate...

Fact Check On Claim That French Soldiers Were Deployed To Maiduguri

French soldiers have been deployed to Maiduguri in Borno,...

Peter Obi Criticises Restrictions On Palliatives Distribution Over Stampede

Peter Obi has expressed concern that the restriction on...

Customs Announces Recruitment Plan

The Nigeria Customs Service (NCS) has revealed plans to...

LEAVE A REPLY

Please enter your comment!
Please enter your name here