Naira Depreciates to N1,530/$1 at Black Market

Date:

July 9, 2024.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

Nigerian Naira in the black market,  depreciated against the American Dollar on Monday by N5 to trade at N1,530/$1, in contrast to the previous session’s value of N1,525/$1.

Also at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday July 8, Naira continued its fall to 0.94 per cent or N14.18 against the US Dollar in contrast with last Friday’s closing price of N1,509.67/$1.

It was a similar story with the value of the domestic currency to the Euro in the official market during the trading session as it lost N1.61 to sell at N1,637.14/€1 versus the preceding session’s N1,638.75/€1, but closed flat against the Pound Sterling at N1,637.14/£1.

This happened amid an improvement in the supply of forex to the spot market by 14.2 per cent or $16.58 million to $133.46 million from the $116.88 million quoted last Friday.(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.

Share post:

Subscribe

Popular

More like this
Related

Ogun, IFAD inaugurate cassava processing centre for farmers

July 12, 2024. Azonuchechi Chukwu. Ogun Government in collaboration with the...

Over 22 dead, 132 rescued from Plateau school building collapse

July 12, 2024. Azonuchechi Chukwu. The Plateau State Government has confirmed...

U.S. Advisory Council on African Diaspora Engagement to Visit Nigeria

United States of America: President’s Advisory Council on African...

Patoranking celebrated as he becomes UNDP Regional Goodwill Ambassador for Africa

July 12, 2024. Azonuchechi Chukwu. Nigerian singer Patrick Nnaemeka Okorie, better...
× How can I help you?