September 19, 2023.Thank you for reading this post, don't forget to subscribe!
The Naira opened the new week on a negative note against the US Dollar in the Investors and Exporters (I&E), black market.
The Nigerian Naira lost 2.26 per cent or N17.07 against the greenback during the trading session to quote at N773.98/$1, in contrast to the preceding day’s value of N756.91/$1.
The weakening of the local currency was influenced by the incessant forex supply issues, as the value of transactions grew by 39.9 per cent or $18.34 million to $64.22 million from the previous session’s $45.88 million.
It was not different in the parallel market, with the Naira losing N4 against the American currency on Monday to close at N964/$1, in contrast to last Friday’s exchange rate of N960/$1.(www.maoja247news.com).