Naira down to N1,620 in parallel market
Economy
THE Naira yesterday depreciated to N1,620 per dollar in the parallel market from N1,615 per dollar on Tuesday.
Similarly, the Naira yesterday depreciated to N1,606.56 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,606.59 per dollar from N1,594.27 per dollar on Tuesday, indicating N12.32 depreciation for the naira. The volume of dollars traded (turnover) in NAFEM rose by 2.5 percent to $160.94 million from $156.94 million traded on Tuesday.
Consequently, the margin between the parallel market and NAFEM rate narrowed to N13.41 per dollar from N20.73 per dollar on Tuesday.
A.I
Aug. 29, 2024
Related Posts
SMEDAN partners GIZ to boost MSME development
THE Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it will partner the German International Agency (GIZ) and...
Read MoreNigeria’s inflation rate further declines to 32.15% in August- NBS
THE National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate further declined to 32.15 per cent in August 2024....
Read MoreNaira depreciates further in parallel market, falls to N1,660/$
THE Naira continued its downward trend on Friday, depreciating to N1,660 per dollar in the parallel market. This represents a...
Read MoreMost Read
Subscribe to Our Newsletter
Keep abreast of news and other developments from our website.