Naira Massively Appreciates In Against Dollar Amid Nationwide Protest
LAGOS AUGUST 2ND (NEWSRANGERS)-The Naira continued to appreciate against the dollar at the foreign exchange market despite the ongoing nationwide protest against bad governance.
This came as the Naira appreciated significantly in both official and parallel foreign exchange markets.
FMDQ data showed that Naira significantly appreciated to N1570.00 against the dollar on Thursday from N1608.73 on Wednesday.
This represents an N38.73 gain against the dollar compared to the N1608.73 exchanged on Thursday.
Similarly, at the black market, the Naira appreciated to N1600 per dollar on Thursday from N1610 exchanged the previous day.
Accordingly, this showed that the Naira had recorded two consecutive gains against the dollar at the FX market in the last two days.
DAILY POST reports that in the last 48 hours, the Naira has gained N51.12 against the dollar.
This comes despite Thursday’s hunger protest in major states in Nigeria, which led to the closure of banks, and businesses.
DailyPost
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Posted by News Rangers
on Aug 2 2024. Filed under Business, National.
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