By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Naira Crashes Further In Major Market Segments
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

Naira Crashes Further In Major Market Segments

Farouk Mohammed
By Farouk Mohammed
Published: July 22, 2016
Share
2 Min Read
SHARE

Naira-Dollar-1-1-1-1-1-1-2-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1

The naira shed three points to exchange at N378 to the dollar at the close of trading on Friday afternoon, against N375 it closed with on Thursday, representing a depreciation of 0.8 per cent.


 

The naira on Friday depreciated further against the dollar, pound sterling and the euro in all segments of the market.

At the parallel market, the naira shed three points to exchange at N378 to the dollar at the close of trading on Friday afternoon, against N375 it closed with on Thursday, representing a depreciation of 0.8 per cent.

It also weakened further against the pound sterling and the euro as it exchanged at N487 and N405 respectively against N485 and N405 it traded respectively on Thursday.

However, the Nigerian currency maintained losses at N375, N485 and N405 respectively against the dollar, pound sterling and the euro at the Bureau de Change segment of the market.

The naira also performed poorly at the interbank window as it crashed further to N307.98 to a dollar from N295.38 it traded on Thursday.

Currency traders expressed worry over the extension of losses of the naira against other currencies in nearly all the segments of the foreign exchange market.

They, however, called on the Central Bank of Nigeria to urgently intervene in the market to save the naira from further crash.

It would be recalled that the CBN, on June 20, began implementation of flexible exchange rate policy which many analysts hailed as the magic wand that would shore up the value of the naira.

Four weeks into its implementation, the naira appeared lonely in the face of its trial by macro-economic elements as forces beyond it seemed bent on prolonging its trial.

Stakeholders count on the Monetary Policy Committee meeting of the Central Bank of Nigeria holding next week to pull the right monetary policy lever needed to salvage the naira.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Naira
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article I Was Sent from Heaven as a Demi god – Fayose
Next Article FIFA President, Gianni Infantino to Visit Abuja Only – NFF

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 5 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Trump-Musk Rift Deepens as President Threatens Serious Consequences Over Political Funding
International
NIN Registration for Inmates Yet to Begin in 256 Correctional Centres, Report Reveals
News
Anambra, Osun Polls: APC Faces Internal Strife as Soludo and Adeleke Engage President Tinubu Amid Election Tensions
Politics Top stories
Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?