Nigeria, Sept. 24 -- From N1,491.49 on Monday and N1,488 registered last Friday, this marked a slight dip.
In the parallel market, the local currency also lost ground, trading at N1,521.50 per dollar compared to N1,518 the preceding day. Official and informal markets grew apart as a result of this, a trend that worries analysts and traders still today. Sources at Abuja's Wuse Zone 4 verified the data from the market.
Although the naira is fighting the dollar, Nigeria's foreign reserves are growing quickly, The News Chronicle understands. CBN data showed reserves rising to a six-year high and the greatest level since September 2019-that is, $42.03 billion on Tuesday. Delivering 13 gains in 14 sessions and signaling enhanced foreign...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.