• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Naira Hits N930/$ At Parallel Market, Gap Widens To N150

by Bukola Idowu
2 years ago
in Business
naira
Share on WhatsAppShare on FacebookShare on XTelegram

The value of the naira dipped at both the parallel market as well as the official market as demand for the greenback surged with the gap between the two windows further widening to as much as over N150.

Advertisement

From N875 which it had been hovering at the parallel market, the value of the naira dropped to N930 at the close of trading on Thursday with the local currency also depreciating at the Nigeria Autonomous Foreign Exchange (NAFEX) market.

Naira Depreciation: Operators Lament As 6 Firms Lose N179.56bn

The local currency had firmed up in the early part of this week trading at around N730 to the dollar at the NAFEX window before further depreciating to N782 to the dollar as at Wednesday which was the most recent data published by the FMDQ. Trades at the market had however sold as high as N800 to the dollar.

Currency traders at the parallel market said the value of the dollar had soared due to increased demand for the greenback. This may not be unassociated with vacationers who travel out of the country for summer holidays as well as a spillover of the increased pressure at the official window from manufacturers and importers.

RELATED

Business Summit Partners UWEAL To Empower African Entrepreneurs

Business Summit Partners UWEAL To Empower African Entrepreneurs

17 hours ago
New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

21 hours ago

Liquidity at the official window had waned last month with total inflow dipping significantly by 65.7 per cent month on month. According to data by FMDQ, foreign exchange inflows into the Investors’ and Exporters’ (I&E) end of the market declined from $1.77 billion which was recorded in June to $608.00 million in July, the lowest level since April 2021, when an inflow of $564.20 million was recorded.

Noting that foreign investors remain cautious about returning in their droves despite the forex market liberalisation, as FX backlogs remain uncleared, analysts say, they expect forex liquidity conditions to remain frail in the near term.

Analysts at Cordros Research said they “anticipate weak foreign inflows in the short term, as foreign investors will likely adopt a wait-and-see approach in the near term as they await the CBN’s actions in clearing its forex backlogs and the direction of short-term interest rates amid high inflation.”


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Naira Crisis
SendShareTweetShare
Previous Post

Niger Coup: How Tinubu Escaped The Banana Peel

Next Post

Growing List Of Airspace Closure Threatens Connectivity, Affordable Foreign Travel

Bukola Idowu

Bukola Idowu

You May Like

Business Summit Partners UWEAL To Empower African Entrepreneurs
Business

Business Summit Partners UWEAL To Empower African Entrepreneurs

2025/08/02
New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations
Business

New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

2025/08/02
FUEL CRISIS…Hold Marketers Responsible For Long Queues – Dangote
Business

Dangote Refinery Appoints David Bird As CEO

2025/08/02
Nestlé Equips Over 3.7m Children In 2023
Business

Nestle Nigeria Deepens Grassroots Impact With Women Empowerment Initiative

2025/08/02
Wema Bank Rewards 131 Customers With N11m In ‘5 For 5’ Promo Monthly Draw
Business

Wema Bank Grows Profit by 231% in H1 2025

2025/08/02
United Capital Appoints Uche Ike As New Chairman
Business

United Capital Appoints Uche Ike As New Chairman

2025/08/02
Leadership Conference advertisement

LATEST

Mali Charges Ex-PM With Undermining The State

FG Committed To Transforming Agriculture Sector – VP Shettima

Nigerian Courts’ Ambiguous Judgments

Activists Clash With Police, Anti-Migrant Protesters In UK

Family Condemns Hamas Video Showing Emaciated Israeli Hostage

Experts Oppose One-Day 2027 Elections

Uncertainty Over NNPC CEO’s Alleged Resignation

Trump Fires Lead Official On Economic Data

Gov Sani Distributes 400 Trucks Of Fertilizer To Farmers

Women, Children Most Affected As Over 684 Lives Lost To Boat Mishaps Within 2 Years

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.