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BREAKING: Exchange rate drops to N1,500.79/$1, lowest level since May 

The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024. 

This marks the lowest exchange rate since May 16, 2024, when it was recorded at N1,533.99/$1. 

According to the FMDQ data for the NAFEM window, the naira’s depreciation on June 25 represents a 0.71% decline from the previous day’s rate of N1,490.2/$1. 

This crash occurred amid the claim by the Governor of the Central Bank, Yemi Cardoso, that the country has already experienced the worst of naira volatility regarding foreign exchange. 

 

 

This is a developing story… 


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