Naira gains against dollar at official forex market

 


Hey, big news in the currency world! This week, the naira scored a major win against the US dollar in the official foreign exchange market. 

According to FMDQ data, it hit N1,390.96 per dollar on Tuesday, up from N1,419.11 on Monday. 

That's a solid gain of N28.15 or 1.98 percent compared to the day before. 

The naira had been on a downward trend against the dollar for a while, but it seems like things might be turning around. 

Over at the parallel market, though, the naira took a hit, slipping to N1,360 per dollar on Tuesday from N1,280 the day before.


Let us add a touch of humor to this shall we!🤭😂

Hey there, buckle up for a wild ride in the currency rollercoaster! This week, the naira pulled off a surprise win against its old foe, the US dollar, in the official foreign exchange market. 

According to FMDQ data, it flexed its muscles at N1,390.96 per dollar on Tuesday, showing off its gains from N1,419.11 the day before. 

That's a sweet victory dance of N28.15 or 1.98 percent. It's like the naira decided to hit the gym and bulk up against the mighty dollar!

But hey, don't pop the champagne just yet. The naira had been on a losing streak against the dollar for a hot minute, so this win feels like a breath of fresh air. 

Meanwhile, over at the parallel market, things were a bit rocky. 

The naira stumbled to N1,360 per dollar on Tuesday, taking a tumble from its high of N1,280 the day before. 

It's like the naira had one too many drinks at the parallel market party and ended up doing the limbo. 

Keep your eyes peeled, folks, the currency drama never sleeps!

So my fellow nigerians, Na good news abi na bad news?🤷‍♂️🤔.

Kindly leave your thoughts in the comment section below.


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