Naira Depreciation Worsen, Exchanges At N1,520/$ – The Reflector Newspaper
Friday, August 29, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Featured

Naira Depreciation Worsen, Exchanges At N1,520/$

Victor Okebunmi by Victor Okebunmi
May 14, 2024
in Featured, News
0
EFCC Arrests BDC Operators As Naira Weakens To 1,416/$
0
SHARES
4
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The naira depreciated to N1,520 per dollar at the parallel section of the foreign exchange (FX) market on Monday.

This signifies a 3.4 percent decline from the N1,470/$ traded on May 10.

Related posts

BREAKING: New Minimum Wage Payment Begins From July 29 – FG

NLC Demands N150,000 Minimum Wage For Lagos Workers

August 29, 2025
PDP Considering Jonathan, Obi For 2027 Presidential Ticket – Bala Mohammed

PDP Considering Jonathan, Obi For 2027 Presidential Ticket – Bala Mohammed

August 29, 2025

The bureau de change (BDC) operators, popularly known as street traders, put the buying price of the dollar at N1,490 and the selling price at N1,520 — leaving a profit margin of N30.

At the official window, the local currency depreciated by 0.80 percent against the dollar to close at N1,478.11 on Monday — from the N1,466.31 traded on May 10.

According to FMDQ Securities Exchange, a platform that oversees official FX trading in Nigeria, an exchange rate of N1,490 to the dollar was the highest rate recorded during trading and the lowest rate was N1,322/$.

Meanwhile, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), on Monday, said the apex bank had been “reoriented” to focus on price and monetary stability. Cardoso said the official FX market has been stabilised.

According to the governor, investors previously had a “tendency to head for the window” in response to currency fluctuations, however, there has been a “fundamental shift”. Cardoso said investors are getting more comfortable with the official window.

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

UniAbuja: Any Lecturer Who Resumes Duty Will Be Punished – ASUU Insists On Strike

Next Post

Asari Dokubo Slams Wike For Acting Like a ‘Deity’

Next Post
Asari Dokubo Slams Wike For Acting Like a ‘Deity’

Asari Dokubo Slams Wike For Acting Like a ‘Deity’

RECOMMENDED NEWS

NNPCL Downplays Plan To Remove Kyari 

BREAKING: Tinubu Sacks NNPC Board, Mele Kyari Out, Bayo Ojulari In As CEO

5 months ago
Media, Organizations Must Help Expose Petrol Importation Fraud – Falana

Falana Cautions DSS, NIA Over Natasha’s Probe Of IPU Trip

5 months ago
Shehu Sani Speaks Out In Defense of Tunji-Ojo In Contract Scandal – No Laws Violated

Shehu Sani Speaks Out In Defense of Tunji-Ojo In Contract Scandal – No Laws Violated

2 years ago
Oyo State Local Government Polls Plagued By Delays, Materials Shortage

Oyo State Local Government Polls Plagued By Delays, Materials Shortage

1 year ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Ademola Adeleke Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Buhari By-Elections CBEX Coalition Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha Nigerian National Petroleum Company Limited (NNPCL) Nnamdi Kanu NNPC NNPCL NYSC Olubadan PDP Peter Obi President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • NLC Demands N150,000 Minimum Wage For Lagos Workers
  • PDP Considering Jonathan, Obi For 2027 Presidential Ticket – Bala Mohammed
  • NNPC Was Losing N500m Monthly At PH Refinery When I Took Over – Ojulari
  • Tinubu Speaks On Reasons For Foreign Trips

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

BREAKING: New Minimum Wage Payment Begins From July 29 – FG

NLC Demands N150,000 Minimum Wage For Lagos Workers

August 29, 2025
PDP Considering Jonathan, Obi For 2027 Presidential Ticket – Bala Mohammed

PDP Considering Jonathan, Obi For 2027 Presidential Ticket – Bala Mohammed

August 29, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights