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

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  • 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.

The value of Nigerian currency falls againPhoto credit: Bloomberg/contributorSource: Getty Images

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 …

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