Business

Naira Slumps Against Dollar At Foreign Exchange Market

However, in the parallel market, the Naira strengthened to N1340 per Dollar on Thursday from N1360 per Dollar on Tuesday.

By Johnson Atoukudu

The Naira has started to lose value against the Dollar once again in the foreign exchange market. According to FMDQ data, the Naira fell to N1402.67 per Dollar on Thursday from N1,390.96 on Tuesday, marking an N11.71 decrease from Tuesday’s rate.

However, in the parallel market, the Naira strengthened to N1340 per Dollar on Thursday from N1360 per Dollar on Tuesday.

Aminu Gwadabe, the National President of the Association of Bureaux De Change of Nigeria, mentioned plans to unify the retail foreign exchange market, aiming to stabilize the Naira.

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