Foreign reserve falls as Naira trades at N436 per dollar
The Naira hit a new record low of 436 on the black market on Thursday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy, traders said.
Nigeria’s dollar reserves stood at $24.83 billion by September 19, down 3.4 percent from a month ago, to its lowest level in more than 11-years, as the central bank sells the greenback on the interbank market to support the Naira.
The Naira ended at 305.50 per dollar on the official market, a level its has closed at for the past one month.
More Stories
FG TO SITE SPECIAL AGRO INDUSTRIAL PROCESSING ZONE IN EBONYI
REPORTER: AMECHI ODO The Federal Government, in partnership with some Development Financial Institutions, has embarked on a preparatory mission for...
NATIONAL INSTITUTE FOR SECURITY STUDIES STORMS ABIA
REPORTER: PEACE AGBO A delegation of the Course 17, Syndicate 2 of the National Institute for Security Studies, Abuja is...
NEMA DONATES OVER 819 METRIC TONNES OF MAIZE/GARRI TO ANAMBRA.
REPORTER: IFEANYI CHINWUKO The National Emergency Management Agency (NEMA) has assured the people of Anambra State of the continuous support...
GOV OTTI WARNS AIDES AGAINST CORRUPTION
REPORTER: PEACE AGBO Newly inaugurated political Aides in Abia State have been charged to bring in their wealth of experience...
NWIFURU AWARDS ADDITIONAL N10,000 TO EBONYI WORKERS
REPORTER: CHINELO OKORO Ebonyi State Governor, Chief Francis Nwifuru has added another N10,000.00 bonus to the salaries of state workers....
PAY US APPROVED WAGE AWARD, ARREARS OF ALL ENTITLEMENTS— ABIA NLC BEGS OTTI
REPORTER: PEACE AGBO Abia State Government has pledged to take the lead in the implementation of the new minimum wage...