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Naira Hits New Low: Drops to N1,300/$ in Official Market



Breaking News: Naira Takes a Dive in Foreign Exchange Market, Hits N1,300.15 Against the Dollar.

Recent data from FMDQ reveals a startling jump in the Naira’s exchange rate, skyrocketing to N1,300.15 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

This surge surpasses the parallel market rate by a significant N45.15 margin. Compared to last week’s figures, this represents a whopping N65.66 depreciation for the Naira.

In tandem, the parallel market also witnessed a decline, with the Naira sliding to N1,255 per dollar from Monday’s N1,250. Stay tuned as we track the latest developments in this currency rollercoaster ride.