Business

Naira rises to N1,510/$ in parallel market

Naira rises to N1,510/$ in parallel market

The Naira yesterday appreciated in the parallel market to N1,510 per dollar from N1,515 per dollar last week Friday. However, the Naira depreciated to N1,508.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,508.99 per dollar from N1,505.3 per dollar last weekend, indicating N3.69 depreciation for the naira. The volume of dollars traded in the market fell by 34.9 percent to $122.31 million from $187.82 million last week Friday.
READ ALSO:
Consequently, the margin between the parallel market and NAFEM rates narrowed to N1.01 per dollar from N9.7 per dollar last weekend.

Naira rises to N1,510/$ in parallel market

Trends Admin

Recent Posts

State police bill: Gbajabiamila-led panel extends deadline for public input

State police bill: Gbajabiamila-led panel extends deadline for public input ABUJA — The Presidential Working…

4 hours ago

Davido Halts London Concert, Threatens to Walk Off Stage Over Fan’s Disrespect to Staff

Davido Halts London Concert, Threatens to Walk Off Stage Over Fan's Disrespect to Staff Afrobeats…

4 hours ago

29-Year Kwankwaso Ally Who Swore on Qur’an Defects to APC

29-Year Kwankwaso Ally Who Swore on Qur'an Defects to APC Kabiru Adamu Abdullahi, a long-time…

5 hours ago

ICPC Uncovers Official Who Enrolled 14 Family Members on Govt Payroll, Another Collected 13 Salaries

ICPC Uncovers Official Who Enrolled 14 Family Members on Govt Payroll, Another Collected 13 Salaries…

5 hours ago

Osun Governorship: Accord Party Faction Withdraws Support for Adeleke, Endorses APC’s Oyebamiji

Osun Governorship: Accord Party Faction Withdraws Support for Adeleke, Endorses APC's Oyebamiji Christopher Imumolen, the…

5 hours ago

Court Throws Out Trump-Era Case Accusing Harvard of Failing Jewish Students

Court Throws Out Trump-Era Case Accusing Harvard of Failing Jewish Students A US federal judge…

5 hours ago