Naira Weakens at I &E,strengthens at the Black Market

Date:

May 23, 2023.

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Azonuchechi Chukwu.

Nigerian Naira appreciated against the United States Dollar in the black market window but depreciating in the Investors and Exporters (I&E) category.

The Nigerian currency in the parallel market on Monday  gained N1 against the American Dollar to settle at N757/$1 compared with the preceding session’s value of N758/$1.

But in the official market, the Nigerian Naira was weakened against the Dollar by 0.11 per cent or 50 Kobo to trade at N463.50/$1, in contrast to last Friday’s closing price of N463.00/$1.

The turnover of forex transactions closed higher by 16.4 per cent or $15.03 million to $106.84 million from the $91.81 million reported in the previous trading day, according to data from FMDQ Securities Exchange.(www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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