Trend News
NCC Banner

Naira appreciates to N1,680/$ in parallel market

The Naira yesterday appreciated to N1,680 per dollar in the parallel market compared to N1,690 per dollar last weekend.

Similarly, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,552.92 per dollar from N1,641.27 per dollar last weekend, indicating N88.35 appreciation for the naira.

The volume of dollars traded (turnover) in the official market declined by 44 percent to $343.71 million from $616.73 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N127.08 per dollar from N48.73 per dollar last weekend.

Related posts

Reps wade into Dangote refinery, NMDPRA, NNPC row

Trend News

Cubana Chief-Priest: Lagos unseals Donald’s Fast Food after promise to abide by environmental laws

Adeboye Oyeyemi

IMF predicts drop in Nigeria’s inflation rate by 2029 

Trend News

CBN makes u-turn, withdraws circular on cybersecurity levy

Trend News

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More