Nigeria’s currency on Thursday weakened by N1.00k as the dollar was trading at N440 compared to N439 traded on the previous day.
Traders attributed the high cost of dollar to increased demand as importers were buying dollars from the black market to settle their objections.
The foreign exchange market opened on Thursday with an indicative rate of N385.35k, which showed Naira depreciating by N0.27k when compared with N385.08k traded on Wednesday at the Investors and Exporters (I&E) forex window, data from FMDQ revealed.
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Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
