Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The naira has continued its downward trend against the dollar at the official foreign exchange market. According to the Central Bank of Nigeria’s data, the naira weakened slightly to N1,531 per dollar on Wednesday from N1,529.22 exchanged on Tuesday. This represents a depreciation of N1.78 against the dollar on a day-to-day basis, marking the highest depreciation this week.

For further information, read more details here

In contrast, the naira remained stable at the black market, trading at N1,550 per dollar on Wednesday, unchanged from the previous day.

The Role of Education in Shaping Political Views

This development comes as CardinalStone’s mid-year outlook predicts a rise in Nigeria’s external reserves to $41 billion by year-end. The forecast suggests a positive outlook for the country’s foreign exchange position, despite the current challenges faced by the naira

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post