• About us
  • Advertise with us
  • Privacy Policy
  • Contact us
Monday, June 30, 2025
  • Login
Envision Nigeria
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    LG Unveils New Campaign To Promote Healthier, Smarter Living

    LG Unveils New Campaign To Promote Healthier, Smarter Living

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    POS operator docked for allegedly stealing her employer’s N553, 500

    POS operator docked for allegedly stealing her employer’s N553, 500

    Court remands security man over alleged rape of tailor in Ibadan

    Court remands security man over alleged rape of tailor in Ibadan

    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    My husband doesn’t beat me – Rosy Muerer

    My husband doesn’t beat me – Rosy Muerer

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Technology: The play station Revolution!

    Technology: The play station Revolution!

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Almost August: But the Football Buzz Starts Now!

    Almost August: But the Football Buzz Starts Now!

  • World News
  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    Benefits of gloves, spiritually 

    Benefits of gloves, spiritually 

    What age difference is ideal between husband and wife?

    What age difference is ideal between husband and wife?

    The Versatility of Gender-Neutral Fashion

    The Versatility of Gender-Neutral Fashion

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    The Last Guardian Playstation 4 Game review

No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    LG Unveils New Campaign To Promote Healthier, Smarter Living

    LG Unveils New Campaign To Promote Healthier, Smarter Living

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    POS operator docked for allegedly stealing her employer’s N553, 500

    POS operator docked for allegedly stealing her employer’s N553, 500

    Court remands security man over alleged rape of tailor in Ibadan

    Court remands security man over alleged rape of tailor in Ibadan

    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    My husband doesn’t beat me – Rosy Muerer

    My husband doesn’t beat me – Rosy Muerer

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Technology: The play station Revolution!

    Technology: The play station Revolution!

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Almost August: But the Football Buzz Starts Now!

    Almost August: But the Football Buzz Starts Now!

  • World News
  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    Benefits of gloves, spiritually 

    Benefits of gloves, spiritually 

    What age difference is ideal between husband and wife?

    What age difference is ideal between husband and wife?

    The Versatility of Gender-Neutral Fashion

    The Versatility of Gender-Neutral Fashion

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    The Last Guardian Playstation 4 Game review

No Result
View All Result
Envision Nigeria
No Result
View All Result
Home News Business

Naira rebounds to 1,275/$ at parallel market

Ademola Damilola by Ademola Damilola
April 29, 2024
in Business, News
0
Naira rebounds to 1,275/$ at parallel market
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Over the weekend, the Nigerian naira demonstrated signs of strength against the US dollar, appreciating to N1,275/$1, marking a significant increase from its previous rate of N1,400 to a dollar at the close of trading on Friday. This development coincided with efforts by the Senate’s Committee on Finance to address the currency’s instability and continuous depreciation.

According to currency traders at Wuse Zone 4 market, trading uncertainty has contributed to fluctuations in the exchange rate. They highlighted the need for decisive action from the government to either increase the currency value or allow it to depreciate for market stability. Traders expressed concerns about the risks associated with trading the naira due to its volatile nature, emphasizing the adverse impact on businesses.

The recent recovery in the naira’s value aligns with plans by the Association of Bureaux De Change Operators of Nigeria to unify the retail end of the foreign currency market. This initiative aims to enhance transparency and efficiency in forex transactions.

Despite this marginal gain, the naira had experienced a 26.2% loss in value over two weeks prior, reflecting the challenges faced in stabilizing the currency. The Central Bank of Nigeria’s allocation of $15.83 million to BDC operators aimed to bolster liquidity in the unofficial market.

However, data from FMDQ securities exchange indicated a continued depreciation of the naira against the US dollar at the official foreign exchange window, closing at N1,339/$ on Friday. This trend underscored a week of depreciation in the official market.

Concerned by the currency’s instability, the Senate Committee on Finance emphasized the need for proactive measures to safeguard the naira’s stability and resilience. Chairman Senator Sani Musa highlighted the challenges posed by internal and external factors, including fluctuations in global oil prices and fiscal deficits. The committee pledged to collaborate with stakeholders to implement effective policies and strategies to mitigate the impact of naira depreciation and foster economic stability.

Senator Musa urged Nigerians to remain vigilant and resilient amid the economic challenges, emphasizing the importance of collective efforts in overcoming these uncertainties and achieving economic growth and prosperity.

Previous Post

Man accused of cement theft jumps into Lagos lagoon, dies

Next Post

Twins, two others arrested for stealing rice, beans

Ademola Damilola

Ademola Damilola

Next Post
Twins, two others arrested for stealing rice, beans

Twins, two others arrested for stealing rice, beans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
FG commences electronic verification for military veterans February 19

FG commences electronic verification for military veterans February 19

February 15, 2024
Fr Ogunyemi charges Catholic women to go MAD

Fr Ogunyemi charges Catholic women to go MAD

February 20, 2024
BREAKING: FCT Minister’s residence gutted by Fire

BREAKING: FCT Minister’s residence gutted by Fire

February 25, 2024
Dr Patrick Tyodzer Pillah: A Scholar Shaping Public Policy, Governance, and Environmental Management in Nigeria

Dr Patrick Tyodzer Pillah: A Scholar Shaping Public Policy, Governance, and Environmental Management in Nigeria

February 11, 2025
Culture making Africans intolerant of blessings for same-sex couples – Pope

Culture making Africans intolerant of blessings for same-sex couples – Pope

1
CBN lacks power to receive NNPCL crude sales – Atiku

CBN lacks power to receive NNPCL crude sales – Atiku

1
Soldier questions non-recognition as Tinubu lavishes gifts on Super Eagles

Soldier questions non-recognition as Tinubu lavishes gifts on Super Eagles

1
Fr Ogunyemi charges Catholic women to go MAD

Fr Ogunyemi charges Catholic women to go MAD

1
LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025

Recent News

LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
Envision Nigeria

Envisionnigeria. com.ng is an on-line publication established to give expression to Article 19 of the Universal Declaration of Human Right. It is an apolitical community of Journalist and Global citizens committed to making the World a better place.

Follow Us

Browse by Category

  • Apps
  • Business
  • Crime
  • Education
  • Entertainment
  • Evironment
  • Fashion
  • Feature
  • Food
  • Foreign News
  • Gadget
  • Gaming
  • Health
  • In the News
  • Interview
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Review
  • Science
  • Sports
  • Startup
  • Tech
  • Travel
  • World

Recent News

LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
  • About us
  • Advertise with us
  • Privacy Policy
  • Contact us

© 2024 Envision Nigeria Publications & Communication Limited

No Result
View All Result

© 2024 Envision Nigeria Publications & Communication Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In