Business
FX Turnover Surges By 81.59% As Naira Stays At $1339 Against Dollar
Foreign exchange turnover increased by 81.59 per cent to $328 million as the Naira maintained its N1339.33 per dollar appreciation mark against the Dollar at the official forex market.
FMDQ data showed that FX transactions turnover rose to $328.32 million at the close of trading on Tuesday from $180.80 million the previous day.
The development signaled renewed activity and demand in the foreign currency market.
Meanwhile, at the parallel market section, the Naira appreciated to N1500 per dollar on Tuesday from N1520 the previous day.
Experts have attributed the Naira’s strengthening against other currencies to the Central Bank of Nigeria’s intervention in the foreign exchange market.
CBN governor, Olayemi Cardoso in its 295th Monetary Policy Committee blamed the persistent FX crisis on seasonal fluctuations.
-
Metro10 months agoHusband Of Osun Missing Police Cries Out To IGP For Help
-
National10 months agoLagere Flyover: Ooni Lauds Gov Adeleke, Urges To Do More On Stomach Infrastructure
-
National10 months agoOsun Monarch Threatens Journalists As Fake Doctor Nabbed Over Pregnant Woman’s Death Freed, Resumes Duty At Hospital
-
Education7 months agoOsun Poly Commences Sales Of HND Admission Application Form For 2024/2025 Session
-
Entertainment10 months agoBuried Alive Challenge : Man Speaks From Underground After 23 hours
-
National10 months agoNigerian Man Announces ‘Buried Alive For 24 Hours’ Challenge
-
National10 months agoBinance CEO Claims Nigerian Officials Demanded Crypto Payments To ‘Make Issues Go Away’
-
Politics10 months agoGov Ododo Spent 100 Days Serving Bello As Special Driver – Okai