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
NEMA DONATES RELIEF MATERIALS TO OVER 18,000 VULNERABLE HOUSEHOLDS IN ANAMBRA
REPORTER: UCHE NDEKE The Federal Government says 660,884 households are targeted to benefit from the 2023 National Special Economic and...
EBONYI TO DISTRIBUTE PETROL SUBSIDY PALLIATIVE 1ST WEEK OF OCT—COMMISSIONER
REPORTER: AMECHI ODO Ebonyi State Government is to commence the distribution of palliatives to cushion the effect of subsidy removal...
IMO GUBER POLL: INTEREST GROUPS TELL INEC AREAS OF CONCERN
REPORTER: CHINAZO ILECHUKWU Participants in a meeting held between the Independent National Electoral Commission (INEC) and stakeholders in election in...
SOLUDO TO EMPLOY 3,000 MORE TEACHERS
REPORTER: BEN ILECHUKWU The Anambra State Government is to recruit additional 3,000 teachers into government owned schools as part of...
SOLUDO PROMISES TO RID ONITSHA OF TOUTS
REPORTER: BEN ILECHUKWU Anambra State Governor, Prof. Chukwuma Soludo, says his administration is ready and determined to clean and rid...
OTTI TO NMA: ABSUTH WILL NOT LOOSE ACCREDITATION UNDER MY WATCH
REPORTER: PEACE AGBO Abia State Government says it is working with international healthcare agencies to standardize and better healthcare services...