Glamtush reports that the supply of Dollar and other currencies dropped at the foreign exchange market as the Naira exchange rate depreciated on Thursday.
This online news platform understands that FMDQ data showed that the foreign exchange transactions turnover declined to $87.51 million on Thursday from $139.48 million recorded the previous day.
This represents a $57.97 million decrease in FX transactions turnover on a single day.
The development led to the depreciation of Naira to N1544.02 per dollar on Thursday for N1539.65 exchanged on Wednesday.
This comes amid the recent interest rate cut announced by the United States Federal Reserve.
Meanwhile, the Central Bank of Nigeria Monetary Policy Committee will be meeting next week to decide on the country’s interest rate.
Rwanda has launched the first mpox vaccination campaign in Africa, marking a significant step in…
PZ Cussons is set to sell its Nigeria subsidiaries over FX crisis. Glamtush reports that…
FG has unveiled the schedule for the 2024 Independence Day Celebration in Nigeria. Glamtush…
Democratic candidate, Kamala Harris, held a star-studded rally hosted by talk show legend Oprah Winfrey…
Top summary from Nigerian Newspapers for Friday, September 20th, 2024, can be accessed on this…
Gospel singer Dele Gold has been laid to rest. Glamtush reports that popular Nigerian…