BREAKING: Dollar To Naira Exchange Rate Ends 2024 With 40.9% Depreciation

Dollar To Naira Exchange Rate ended 2024 with a 40.9% depreciation at N1,535/$1.

 

NewsOnline Nigeria reports that the exchange rate between the naira and the dollar ended the year at N1,535/$1 representing a 40.9% depreciation for 2024 under President Bola Tinubu’s watch.

 

This Nigeria news platform recalls that the official exchange rate between the naira and dollar closed in 2023 at N907.11/$1 thus depreciating by 40.9% for the year which compares to a 49.1% devaluation at the end of 2023.

 

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Nigeria introduced several foreign exchange policies in 2024 as the central bank expanded on market-friendly forex policies to attract foreign investors.

Meanwhile, on the parallel market where the exchange rate is sold unofficially, the naira exchanged for N1,660 to the dollar when compared to N1,215/$ according to Nairametrics tracking records. This represents a 26.8% depreciation.

 

This is a developing story….