The Naira continues to lose worth in opposition to the US greenback within the overseas change market.
FMDQ knowledge confirmed that the Naira depreciated to N925.34 on Monday from N902.45 per US greenback on Friday.
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The speed fell barely by 2.54 p.c to shut at N925.34 in comparison with the N902.45 per US greenback it closed on Friday.
Equally, within the parallel foreign exchange market, the Naira depreciated with the change charge at N1,360 per greenback, representing a depreciation of 0.74.
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Reacting to the free fall of the Naira, the Affiliation of Bureau De Change Operators of Nigeria blamed greenback hoarders.
In the meantime, the Governor of the Central Financial institution of Nigeria, Olayemi Cardoso, will maintain his first Financial Coverage Committee assembly since resuming workplace on February 26 and 27, 2024.
Picture credit score: Getty
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