Politics
Today’s Naira-Dollar Exchange Rate
Today’s Naira-Dollar Exchange Rate....KINDLY READ THE FULL STORY HERE▶
The Nigerian naira demonstrated a notable appreciation trend in currency markets on Tuesday, with the parallel market witnessing a rise to N1,350 per dollar from Monday’s rate of N1,430 per dollar. Similarly, within the Nigerian Foreign Exchange Market (NAFEM), the naira strengthened to N1,382.95 per dollar, as indicated by data from FMDQ. This shift marked a significant improvement from the previous day’s rate of N1,408.04 per dollar, resulting in a notable appreciation of N25.09 for the naira.
Consequently, the margin between the parallel market rate and NAFEM widened to N32.95 per dollar, showcasing a notable increase from Monday’s margin of N21.96 per dollar. Over the past month, the Nigerian naira has experienced a remarkable surge of 18.28 percent, reaching N1,408.04 on Monday from its low point of N1,665.50 recorded on February 23, 2024, according to data
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Source: Bushradiogist
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