foreign exchange reserves
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![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$
The naira failed to hold the N1,650/$ support line in the official market, closing at N1,652.25/$1. Despite Nigeria’s growing foreign exchange reserves, the currency remains weak due to factors like inflation, low oil production, and high demand for U.S. dollars, contributing to rising import...- Nigeria News
- Article
- 2 min read
- foreign exchange reserves nafex naira decline nigerian currency
- Category: Business
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