Naira depreciates to N1,655/$ in parallel market

Fri, Sep 13, 2024
By editor
1 MIN READ

Economy

THE Naira yesterday depreciated to N1,655 per dollar in the parallel market from N1,645 per
dollar traded on Wednesday.

Similarly, the Naira yesterday depreciated to N1,649.76 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,649.76 per dollar from N1,558.75 per dollar on Wednesday, indicating N91.01 depreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rate narrowed to N5.24 per dollar from N86.25 per dollar the previous day.

A.I

Sept. 12, 2024

Tags:


Related Posts

SMEDAN partners GIZ to boost MSME development

THE Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it will partner the German International Agency (GIZ) and...

Read More
Nigeria’s inflation rate further declines to 32.15% in August- NBS

THE National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate further declined to 32.15 per cent in August 2024....

Read More
Naira depreciates further in parallel market, falls to N1,660/$

THE Naira continued its downward trend on Friday, depreciating to N1,660 per dollar in the parallel market. This represents a...

Read More

Most Read

FeaturedPhotos: Edo women protest police arrest of PDP chieftains, calls for their release, peaceful electionBy editor1 MIN READ
OpinionHistory, Hissy Fits, and Hatchetry about the IgboBy editor1 MIN READ
PoliticsPDP exposes how Presidency, DSS, NSA plans to rig Edo gubernatorial polls.By editor1 MIN READ
PoliticsEdo Guber: Tragedy as APC campaign convoy crushes five to death in fatal accidentBy editor1 MIN READ
FeaturedFormer treasurer of Labour Party alleges misappropriation of N3.5bnBy editor1 MIN READ

Subscribe to Our Newsletter

Keep abreast of news and other developments from our website.

Latest Stories

Nigeria to lead $7.7trn global halal market – Shettima

Humanitarian Crises: Why Nigeria Needs Collective Response - UN Rep, Fall 

Asue Ighodalo’s victory is certain - Edo professionals