The official exchange rate witnessed a sharp decline, with the naira weakening to N847 against the dollar, marking a 6.93% drop from yesterday’s rate of N793. Data sourced from the official NAFEM window reveals this significant shift.
READ ALSO:Experts Call For Local Production To Strengthen The Naira
Join our WhatsApp ChannelThe official market neared the N1,000 threshold, touching a historic high of N999 per US dollar. In contrast, unofficial parallel markets exhibited extreme volatility, with rates fluctuating between N1,040 and N1,175 per dollar, and some transactions even reaching N1,200 per dollar.
READ ALSO:Naira Speculators To Burn Their Fingers As Nigerian Govt Evolves New FX Stability Measure
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Somto is an Entertainment Reporter with a passion for uncovering the latest stories in the world of entertainment. As a dedicated journalist, Somto delivers in-depth reporting, exclusive interviews, and breaking news coverage.
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As an Entertainment Reporter for Prime Business Africa, She continues to provide comprehensive and insightful coverage of the entertainment industry, offering readers an insider's perspective on the latest developments and trends. She is a trusted source for breaking news, exclusive interviews, and thought-provoking analyses.
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