Naira’s value against dollar depreciates by 0.43%
The naira depreciated in the official market on Monday, trading N1,498.98 to a dollar.
Data from the Central Bank of Nigeria showed the naira lost N6.49.
This represents a 0.43 per cent decline compared to Friday, when it closed at N1,492.49 to a dollar.
The loss followed a three-day appreciation recorded the previous week.
Despite this, the naira has remained relatively stable against the U.S. dollar due to CBN’s reforms promoting transparency in the foreign exchange market.
Analysts continue to commend the CBN for the local currency’s steady progress since December 2024.
(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.”
Diaspora
Diaspora group condemns alleged killing of two Nigerians in South Africa, demands justice
NUSA said it has commenced engagement with the police to ensure that a thorough investigation is conducted and that justice prevails.
States
Taraba chief judge lauds Tinubu’s move to establish state police
The chief judge said the issue of state police was crucial given the spate of criminality in the country.
States
Ekiti govt orders free treatment for rescued worshippers
Oyebanji directed the Ministry of Health and Human Services to oversee the welfare and well-being of the rescued worshippers.
States
Rescue operation ongoing for abducted Oyo pupils, teachers: Army chief
The victims were abducted on May 15 from three schools in the Orire Local Government Area of Oyo.
States
Gov. Radda vows zero tolerance for gender, child abuse
The governor pledged sustained collaboration with relevant stakeholders to strengthen prevention, response, and support mechanisms for GBV victims.
Diaspora
Consulate demands justice as another Nigerian killed in South Africa
The consulate called on the South African government to launch an investigation into all alleged murder cases and prosecute perpetrators.
