Naira Weakens At Official FX Window Amid Rising Dollar Demand

The Nigerian naira experienced mixed trading across foreign exchange (FX) markets on Tuesday, as surging dollar demand from corporates seeking overseas payments weighed on the local currency. Data from investment banking firms showed that the naira appreciated by ₦3 in the parallel market, closing at ₦1,547/$1. However, at the official Nigeria Foreign Exchange Market (NFEM) … Continue reading Naira Weakens At Official FX Window Amid Rising Dollar Demand