Naira Watch
Naira closes same rate at official market against US dollar
The Naira traded flat against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) windows of the foreign exchange (FX) market on Tuesday, February 28.
According to data obtained by FMDQ Securities Exchange naira closed at N462.00/$1, the same rate from Monday.
During trading, the value of forex transactions decreased by 11.6 percent or $6.28 million to $48.09 million from the $54.37 million recorded a day earlier.
READ ALSO:Naira closes at N685/$1 amidst foreign airlines’ pressure on currency
However, the country’s Nigerian currency depreciated against its American counterpart in the black market.
In the P2P segment, the value of the local currency against the greenback remained unchanged yesterday at N768/$1, and in the official market, the exchange rate was flat at N462.00/$1.
Also, in the interbank segment of the market, the Naira neither made a gain nor a loss against the British Pound Sterling and the Euro as it ended Tuesday’s session at N552.52/£1 and N486.97/€1, respectively.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...