According to data published by the FMDQ, the value of the naira dropped on Tuesday, 5 March 2024 by ₦68.24 representing 4.45 per cent from the Monday’s close of trading where it recorded ₦1,534.19 against one US dollar.

The intraday high was ₦1,652.40/$1, while the intraday low was ₦1,450/$1, representing a spread of ₦202.40/$1.

Prime Business Africa reports that the value of the naira had appreciated on Thursday, 29 February, when it exchanged for ₦1,595.11/$1 after the previous day’s (28 February) ₦1,609.51/$1.

Data from the official NAFEM window indicates that after the close of trading on Tuesday, 5 March, there was $291.78 million in currency turnover, which was 63.26 per cent higher than the day before.

As trading in the official market continues to increase, the average weekly turnover for forex has exceeded $200 million.

The Naira also lost value to the dollar in the parallel market, where it was quoted at ₦1,630/$1, down by 1.84 per cent from the ₦1,600 quote from the day before.

[url]https://www.primebusiness.africa/naira-drops-to-%e2%82%a61602-43-after-3-days-winning-streak-in-official-market/[/url]

Tinubu said ₦260 per Dollar was too much. Therefore, his government is not good until Naira goes below 260 per Dollar in his regime.

Newsfrica:

[url]https://www.primebusiness.africa/naira-drops-to-%e2%82%a61602-43-after-3-days-winning-streak-in-official-market/[/url]

The naira never won, it was just on a swing mood and retracement break.

Now the down movement continues....

Spirit of initial gra gra...wax stronger abeg o.