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Naira Falls to Six-Month Low Against Dollar at N1,625.88/$1

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Naira Falls to Six-Month Low Against Dollar at N1,625.88/$1
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The Nigerian naira has weakened significantly against the US dollar, hitting a six-month low of N1,625.88 per dollar on the official NAFEM market on Wednesday, August 4, 2024.

This drop marks the lowest exchange rate since March 8, 2024, when the currency was recorded at N1,627.4 per dollar.

Data from the FMDQ indicates that the naira depreciated by 0.89% compared to the previous day’s rate of N1,611.34 per dollar.

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The trading session on August 4 showed notable volatility, with the naira reaching a high of N1,640 and a low of N1,400 against the dollar, reflecting ongoing instability in the foreign exchange market.

Tags: 9jaspectatorsDollar at N1625.88/$1Dollar to Naira rateNaira Falls to Six-Month Low Against DollarSpectatorsspectatorsng
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