The naira on Wednesday weakened to N1,507.83 per dollar at the official market as against N1,500.79 to the greenback on Tuesday. At the parallel market, the local currency closed at N1,488 per dollar on Wednesday as against N1,484 to the dollar on Tuesday. Meanwhile, the Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange. Foreign exchange inflows refer to the movement of foreign currency into a country. These inflows can come from various sources, such as exports, when a country sells goods and services to other countries; it earns foreign currency from these transactions.

Source: Nigerian Tribune June 27, 2024 08:37 UTC