play_arrow
Boss98.9 FM Radio for the Boss Mind
play_arrow
Campus Drive
The Naira has lost over half of its value in the last one year.
According to data from the FMDQ, the value of the local currency dropped from N747.76/$1 on September 22, 2023, to N1,541.52/$1 as of September 20, 2024, representing a 51.49% depreciation.
This decline in the value of the naira has occurred amid efforts by the CBN to stabilize the currency, including a notable increase in Nigeria’s foreign exchange (forex) reserves.
Nigeria’s foreign exchange (FX) reserves grew by 12% over the past year, rising from $33.28 billion on September 22, 2023, to $37.39 billion on September 19, 2024, reaching its highest level under the administration of Bola Tinubu.
This $4.12 billion increase in reserves signals efforts by the CBN to shore up liquidity in the forex market and manage external shocks.
Sixteen people were injured in a Russian airstrike on the southern Ukrainian city of Zaporizhzhya on Monday morning. This attack marks the first time the city has been targeted with glide bombs and has left 13 residential buildings, two kindergartens, and several cars damaged, as confirmed by Ukrainian police. Reports indicate that Russian fighter jets are deploying glide bombs near the front lines, guiding them to their targets over long […]
Post comments (0)