Naira appreciates to N1,580/$ in parallel market
Business
THE Naira yesterday appreciated to N1, 580 per dollar in the parallel market from N1,595 per dollar on Wednesday.
Similarly, the Naira yesterday appreciated to N1,570 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,570 per dollar from N1,608.73 per dollar on Wednesday, indicating N38.73 appreciation for the naira.
The volume of dollars traded in the market grew by 47 percent to $142.32 million from $270.81 million traded on Wednesday.
Consequently, the margin between the parallel market and NAFEM rate narrowed to N10 per dollar from N13.73 per dollar on Wednesday.
A.I
Aug. 2, 2024
Related Posts
Food adulteration: Dawanau int’l market vows to sanction offenders
THE management of Dawanau International Grains Market in Kano State says it is taking bold steps to tackle food adulteration...
Read MoreECA trains Mauritanian women business leaders on adopting sustainable practices
THE UN Economic Commission for Africa’s Subregional Office for North Africa launched today, in partnership with the Mauritanian Ministry of...
Read MoreFEDA announces strategic investment in Team Drogba, competing in E1 series
THE Fund for Export Development in Africa, FEDA, the development impact investment arm of African Export-Import Bank, Afreximbank, is pleased...
Read MoreMost Read
Subscribe to Our Newsletter
Keep abreast of news and other developments from our website.