The Nigerian currency, Naira, experienced a significant decline on Tuesday, depreciating by 4.6% against the US dollar at the official market.
According to data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira traded at N1,416.57 to the dollar, losing N62.36 compared to the previous trading day on Monday when it exchanged at N1,354.21 to a dollar.
This sudden drop in value marks a significant shift in the Naira’s exchange rate, potentially impacting international trade and economic activities in Nigeria.
The decline may be attributed to various factors, including economic indicators, geopolitical events, and market dynamics.
This naira to dollar matter hope them go get am right one day cuz e dey affect us like mad
It’s unfortunate. When will it all end? 🤦
When it will end when government policies are not well thought through
A lot of this illegitimate government policies are anti people reason the naira hasn’t really appreciated against the dollar
I just hope that one day our naira would appreciate greatly
Nigeria go better like they use to say. I hope this country finds favour.
The dollar is growing again against Naira. It shall be well
I hope all these pass… Even a bit of change isn’t appreciating our currency value yet
Nawaoo. I pray the law of gravity happen heavily to our naira soon. Let’s use one positive news hold body small at least
Naira is losing its value everyday
When I thought all this has been resolved 😭
God abeg
Dollar wey fall wey no affect anything
Make e kukuma rise back