Similarly, this is first since March 5, 2024, that the country’s currency crossed to N1,572.82 per USD mark from an average of N1,600 per USD. This is because USD transactions surged 2.20 per cent, reaching $140.45 million as opposed to the $137.43 million on Friday. Also, in the parallel market, the naira appreciated by 0.78 per cent against the US dollar, trading at N1,608 compared to the previous figure of N1,614 per USD.
The Naira gained against Pounds sterling traded N2,030 per £1 on Monday from the earlier rate of N2,045 per £1. Also appreciated by 0.50 per cent against the Euro, traded N1,725 per €1 up from last week’s Friday rate of N1,735 per €1. This development comes as Nigeria's foreign reserves saw a slight increase of $2.71 million as of March 14, 2024, amounting to $34.416 billion—a 0.008 per cent rise from the previous day’s reserves of $34.413 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD supply surges by 50% as Naira continues appreciation at FOREX marketUS dollar supply surged by 50 per cent to $248.75 million as Nigeria's currency, the Naira, continued its appreciation on Thursday at the foreign exchange market. FMDQ data showed that USD transactions increased to $248.75 million on Thursday compared to $122.18 million recorded on Tuesday.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
USD dollar supply surges by 21% as Naira appreciates at FOREX marketThe US dollar turnover transactions surged by 21 per cent to $122.18 million as the Naira appreciated against the US dollar on Tuesday at the foreign exchange market. FMDQ data showed that USD transactions increased to $122.18 million compared to the $96.13 million recorded on Monday. The development comes as the Naira records N14.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Naira depreciation continues against USD at Forex Market days after Binance exitThe Naira continued its depreciation against the US dollar at the close of the official foreign exchange market on Friday, days after Binance's discontinued Naira-denominated transactions. FMDQ data showed that it dropped to N1627.40 per USD on Friday from N1,602.17 on Monday. This represents a N25.23 or 1.
Source: DailyPostNGR - 🏆 11. / 59 Read more »