Dollar, Pound, Euro Exchange at New Rates in Official, Black Markets As Naira Depreciates [Video]

• The value of Nigerian currency has depreciated again against the US dollar in the foreign exchange market
• New data showed that the Nigerian currency fell against all currencies in the official and unofficial markets
• The latest data means that Nigerian currency ended the month of August with N28.56 loss despite CBN’s interventions

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Naira closed on the foreign exchange (FX) market closed the month of August 2024 on a negative note as the naira recorded a loss against the dollar across markets.

In the official market, data from FMDQ securities showed that the naira depreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, 30 August, to N1,598.56/$1.

Friday’s exchange rate reflects a 0.29% or N4.63 loss for thenaira against …