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The Business NG - July 17, 2024

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In this issue

The Nigerian naira appreciated slightly against the US dollar at the official foreign exchange market on Tuesday, according to data from FMDQ. The naira gained 0.63% to close at N1,576.66 per dollar, up from N1,577.29 on Monday.

However, the naira's gain was offset by a significant depreciation at the black market, where it lost N25 to trade at N1,585 per dollar, down from N1,560 on Monday. Bureau De Change operators attributed the decline to a drop in foreign currency transaction turnover, which fell to $138.17 million on Tuesday from $155.53 million the previous day.

This reworked version of the headline and news story aims to provide a clearer and more concise summary of the naira's performance at both the official and black markets, highlighting the contrast between the marginal gain at the official market and the significant depreciation at the black market.

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level