News
Naira records sharpest decline against Dollar at black market
The naira recorded its steepest depreciation against the US dollar at the parallel market at the close of trading hours on Wednesday, May 7.
On the ground observations from parts of Lagos showed that the exchange rate fell to ₦1,625 per dollar on Wednesday, compared to ₦1,610 on Tuesday.
This reflects a ₦15 drop—the highest daily decline in the naira’s value against the dollar so far this week.
At the official market, the naira also weakened, dropping to ₦1,608.60 on Wednesday from ₦1,605.62 the previous day. The naira has continued to decline against the dollar at the official market for three consecutive days.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
