Naira devaluation: Airtel records $549m foreign exchange losses

As of Thursday’s conclusion of trading on the official foreign exchange market, the Naira has retained its N1,300 status versus the US Dollar.

On Thursday, the Naira was valued at N1,309.39 per USD, according to FMDQ data, up from N1,300.43 the day before.

This comes after USD transactions generated a turnover of $857.78 million on Thursday, as reported by FMDQ data.

ABCON reveals when Naira will appreciate to N1,000 per USD

Similarly, the Naira maintained a parallel market exchange rate of N1300 and 1320 per USD.

The occurrence transpired amid the Central Bank of Nigeria’s increasing banks’ minimum capital requirements.

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