August 2: Naira Parallel Market Exchange Rate

August 2: Naira Parallel Market Exchange Rate 

On Thursday, the Naira strengthened to N1,580 per dollar in the parallel market, up from N1,595 per dollar on Wednesday……… CONTINUE READING

In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also gained value, appreciating to N1,570 per dollar from N1,608.73 per dollar the previous day, reflecting a N38.73 improvement.

Data from FMDQ revealed that the indicative NAFEM rate decreased to N1,570 per dollar, while the volume of dollars traded surged by 47 percent to $142.32 million, compared to $270.81 million on Wednesday.

As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N10 per dollar from N13.73 per dollar.

For the latest updates and juicy gossip, dive into the Bushradiogist platform by clicking this link: Bushradio. For advert placement only, shoot a WhatsApp message to 0807 580 6790.