Today’s Naira Rate In The Black Market: Latest Updates

Today’s Naira Rate In The Black Market: Latest Updates

The Naira strengthened yesterday, rising to N1,550 per dollar in the parallel market, up from N1,560 on Wednesday. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also appreciated to N1,554.55 per dollar……… CONTINUE READING

According to data from FMDQ, the indicative exchange rate for NAFEM decreased to N1,554.55 per dollar from N1,561.98 on Wednesday, reflecting a N7.43 appreciation. Additionally, the volume of dollars traded on this platform increased by 47.4 percent, reaching $348.82 million, compared to $236.7 million the previous day.

As a result, the gap between the parallel market and NAFEM rates widened to N54.55 per dollar, up from N1.98 on Wednesday.