Naira depreciates to N1,740/$ in parallel market

The Naira yesterday depreciated to N1,740 per dollar in the parallel market from N1,735 per dollar on Tuesday.

Similarly , the Naira appreciated to N1,645.4 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,645.4 per dollar from N1,689.88 per dollar on Tuesday indicating N44.48 appreciation for the naira.

The volume of dollars traded (turnover) in the market rose by 122.5 percent to $236.84 million from $106.44 million sold on Tuesday.

Consequently, the margin between the parallel market and NAFEM rate widened to N94.6 per dollar from N45.12 per dollar on Tuesday.

(Vanguard)


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

PDP Governors Converge in Akure for Agboola Ajayi’s Mega Rally

Akeredolu’s Family Shuns APC, Declares Support for Opposition Candidate in Ondo Election

BREAKING: FEC Approves N48trn Budget for 2025

EFCC arraigns Chinese over alleged bribery, N301 million fraud

PDP Governors Converge in Akure for Agboola Ajayi’s Mega Rally

Akeredolu’s Family Shuns APC, Declares Support for Opposition Candidate in Ondo Election

BREAKING: FEC Approves N48trn Budget for 2025

EFCC arraigns Chinese over alleged bribery, N301 million fraud