Naira Depreciates To N1,740/$ In Parallel Market

Today, the Naira depreciated in the parallel market, falling to N1,740 per dollar from N1,739 per dollar on Thursday.

Conversely, it appreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), rising to N1,601.2 per dollar.

Read Also: Naira Appreciates By 0.07% Against Dollar At Official Market

According to data from FMDQ, the indicative exchange rate for NAFEM decreased to N1,600 per dollar, down from N1,601.2 on Thursday, reflecting a N1.2 appreciation for the Naira.

Additionally, the volume of dollars traded in the official market surged by 23 percent, reaching $284.93 million compared to $230.99 million the previous day.

As a result, the gap between the parallel market and the NAFEM rate widened to N140 per dollar, up from N137.8 per dollar on Thursday

Related articles

AGF Gives Fresh Directive To Police Concerning #EndBadGovernance Protesters

Attorney General of the Federation and Minister of Justice,...

Revelations As Counsel To FG Speaks On 67 Arraigned Minors [VIDEO]

The counsel to the Federal Government (FG) has made...

APC Asks Court To Stop FAAC, AGF, Others From Releasing Funds For Rivers LGAs

The All Progressives Congress (APC) in Rivers State has...

What Cassava Does To Your Body

Cassava, a tuber free of protein and gluten, is...

8 Health Benefits Of Pineapple

Pineapple is more than just a tasty tropical fruit—it’s...

LEAVE A REPLY

Please enter your comment!
Please enter your name here