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Naira Depreciates Amidst Emefiele’s Suspension



Exchange rate Skyrockets to N811/$1 On P2P Market, dollar to naira

Naira on Friday depreciated further against the dollar at the Investors and Exporters window, exchanging N472.50 to the dollar, just as President Bola Tinubu suspended the CBN Governor, Godwin Emefiele.

The local currency showed a 0.64 per cent decrease when compared with N469.50 it exchanged for the dollar on Thursday.

The open indicative rate closed at N471.32 to the dollar on Friday.

Read Also: Why Tinubu Suspended Embattled CBN Gov, Emefiele — FG

An exchange rate of N477 to the dollar was the highest rate recorded within the day’s trading before it settled at N472.50.

Read Also: Why Tinubu Suspended Embattled CBN Gov, Emefiele — FG

The Naira sold for as low as 460 to the dollar within the day’s trading.

A total of 77.42 million dollars was traded at the official Investors and Exporters window on Friday.

Read Also: Tinubu’s Victory: PEPC Admits Peter Obi’s Video Flash Drive As Evidence

Hammed Tajudeen is a graduate of Osun State Polytechnic, Iree with Higher National Diploma (HND) in Mass Communication


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