Market

Naira appreciates to N1,580/$ at parallel market

30 Jul 2024
Naira appreciates to N1,580/$ at parallel market

From N1,610 per dollar last Friday, the Naira strengthened to N1, 580 per dollar in the parallel market yesterday. However, the Nigerian Autonomous Foreign Exchange Market, or NAFEM, saw a depreciation of the Naira yesterday, with one dollar worth N1,611.4. 

The indicative exchange rate for NAFEM increased over the weekend from N1,609.29 to N1,611.4 per dollar, according to data from FMDQ, indicating a N2.11 devaluation of the naira. 

From $168.63 million traded over the previous weekend to $179.34 million this week, the market's volume of dollars moved (turnover) climbed by 6.3 percent. As a result, last Friday's differential between the NAFEM rate and the parallel market increased to N31.4 per dollar from 71 kobo per dollar.

Source


LinkedIn share link Twitter share link Facebook share link Whatsapp

0 comments


Leave a Reply

Special Ads

Hello, I'm
Aishat Akinbami

I'm a content writer. I'm passionate about creating compelling content that connects with readers and inspires them to take action. My writing focuses on topics related to technology, business, lifestyle, travel, news articles, and more. I have a knack for finding the perfect words to convey a message, and I'm constantly reading, researching, and learning about new topics. I also love to stay up to date on the latest content marketing trends and best practices.

Trending Now

Latest Post

Categories