Naira depreciates by 0.4% against dollar
The Naira on Tuesday recorded a slight depreciation in the official market, trading at N1,386.65 per dollar.
Data published by the Central Bank of Nigeria (CBN) showed that the Naira lost N5.86, representing a 0.4 per cent decline from N1,380.79 per dollar recorded on Thursday, April 2, before the Easter break.
The Naira had traded at N1,378.70 per dollar on April 1, indicating a marginal depreciation of 0.1 per cent.
However, amid the recent movement, analysts remained optimistic about the currency’s outlook in 2026, citing ongoing reforms by the apex bank.
The Centre for the Promotion of Private Enterprise (CPPE) said Naira stability in the first quarter of the year boosted business confidence.
According to the CPPE, the currency remains relatively stable during the period, trading within the N1,340 to N1,430 per dollar band.
It attributed the stability to improved foreign-exchange liquidity, stronger oil earnings, and rising external reserves, which had climbed above $50 billion.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Civil War: Ohanaeze commemorates 60th anniversary of Aguiyi-Ironsi, Fajuyi’s deaths
Mr Chukwu said the shared fate of the two leaders transcended ethnic, religious and political divides.
World
Jean Carroll: Trump urges Supreme Court to throw out $83 million defamation ruling
The case stemmed from Ms Carroll’s lawsuit accusing Mr Trump of raping her in the 1990s.
NationWide
Nigerian police repatriate suspected wildlife trafficker to China
The repatriation was carried out through the INTERPOL National Central Bureau (NCB), Abuja.
Health
NACA seeks sustainable financing to safeguard Nigeria’s HIV response
The NACA boss acknowledged the progress Nigeria had made over the last two decades.
Hot news Home top
Police arrest Osun SSG, five others over alleged vote buying, recover voter register, N4.8 million
Mr Ojelabi said that the exhibits were currently in police custody.
Heading 3
FG urges South-South cooperatives to invest in proposed bank, digital platformsÂ
The minister explained that the digital platform would improve transparency.
