Banks’ Dollar Sales Decrease as Naira Weakens to 1,479/dollar

Data from the FMDQ Exchange revealed a significant decline in the total value of transactions recorded at the official Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday. The value plummeted to $203.93 million, marking a 56% drop from $465.29 million recorded on Tuesday. This decline follows a recent surge in FX transactions attributed to circulars … Continue reading Banks’ Dollar Sales Decrease as Naira Weakens to 1,479/dollar