Friday, March 29, 2024

Naira crashes, weakens against Euro, British Pound and others

Naira on Monday depreciated against the Euro, British Pound, South African Rand and Swiss Franc at the official Market.  fluctuates.
According to data posted on the CBN website, the Euro to Naira rose to Four Hundred and Fifty-Six Naira, Sixteen Kobo buying rate to Four-Hundred and Fifty-Four Naira, Thirty-Four Kobo on Friday, this was a One Naira Eighty Kobo or Zero Point Four-Zero percent rise.

Also, British Pound rose against the Naira closing at Five Hundred and Twenty-Seven Naira, Eighty-Seven Kobo, a Four Naira Eighty –One Kobo rise from Five Hundred and Twenty-Three Naira, Six Kobo previously traded.
Similarly, the Naira also weakened against the South African Rand, rising to Twenty-Six Naira Sixty Kobo from Twenty-Six Naira Fifty-Five Kobo that was traded on Friday. This was a Zero Point Two percent fall.

Chinese Yuan to Naira and Japanese Yen to Naira also closed in the negative as the buying prices rose by over Zero Point Two percent. Chinese Yuan rose from Fifty-Eight Naira Eleven Kobo to Fifty-Eight Naira Thirty-Eight Kobo while Japanese Yen rose to Three Naira Fifty Kobo from Three Naira, Forty-Eight Kobo recorded at the close of business on Friday.

Advertisement

In the same vein, Naira to Swiss Franc was also negative as Naira depreciated by Two Naira Twenty-One Kobo, closing at Four Hundred and Fourteen Naira Sixty-Six Kobo. This was a Zero Point Five-Four percent depreciation from Four Hundred and Twelve Naira Forty-Five Kobo previously traded.
However, there was no change recorded at the parallel market, as the amount traded on Friday remained unchanged at the close of business on Monday.

Signature TV
Signature TVhttps://signaturetv.isitedigitals.com
Signature TV is a multi-media company, owners and operators of signaturetv.org and producers of The Signature Show on AIT and Corruption Tori. Our programmes are broadcast on the AIT Network and on Seven NTA stations across the country. We are content providers for a number of television networks and some State TV stations, with a respected 24/7, high online and offline followership. We are also Communications/Media Consultants to MacArthur Foundation, Ford Foundation and OSIWA.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Latest Articles