Naira Reverses Gains in Forex Markets, Crashes in Official and Black Markets
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#f4e83713 ver:2.06

The Nigerian naira has reversed its gains in the forex markets, depreciating against the US dollar in both the official and black markets. In the official market, the naira is now quoted at a high of N1,540.75 and a low of N1,474.05 per dollar, erasing previous gains. In the parallel market, the naira has crashed by 0.35% and is trading at N1,530 per dollar, reaching a three-month low. The depreciation is attributed to importers' pressure on the dollar. The Central Bank of Nigeria has also stopped funding for Bureau de Change Operators as part of FX market reforms. #Naira #Forex #CurrencyDepreciation...

#newstr #Naira #ExchangeRates #ForeignExchangeMarket #Depreciation #ForexTurnover #BlackMarket #Liquidity #Inflows #FxReserve #Importers #DollarPressure 

 https://here.news/story/f4e83713?ver=2.06