Impact of Forex Crisis: Naira Sees Fluctuations in Value
Amid the ongoing foreign exchange crisis, the Naira has witnessed a series of fluctuations in its value over the past week.
On Friday, the Naira closed at N1497.33 per dollar, marking an increase from N1533.99 the day before.
During the week, there were two instances of appreciation, with the Naira reaching N1459.02 and N1497.33 per dollar on Wednesday and Friday, respectively.
Conversely, the currency experienced depreciation on Monday, Tuesday, and Thursday, with values dropping to N1478.1, N1520.40, and N1533.99 per dollar, respectively.
Overall, the Naira has depreciated by N31.02 compared to the previous week's trading rate of N1466.31 per dollar.
On the parallel market, the Naira strengthened by N42 against the dollar, trading at N1475 per dollar on Friday compared to N1517 on Mon...