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Naira Depreciates To N1,230/$ In Parallel Market
Naira Depreciates To N1,230/$ In Parallel Market....KINDLY READ THE FULL STORY HERE▶
The Naira experienced a decline, reaching N1,230 per dollar in the parallel market, compared to N1,225 per dollar the previous week. In contrast, the official Nigerian Foreign Exchange Market (NAFEM) witnessed an appreciation of the Naira to N872.59 per dollar, according to data from FMDQ….CONTINUE READING
The indicative exchange rate for NAFEM revealed a notable drop from N885.88 per dollar over the weekend, showcasing a N13.29 appreciation for the Naira. Consequently, the gap between the official and parallel market exchange rates widened to N357.41 per dollar, up from N339.12 per dollar the previous Friday.
The trading volume on the foreign exchange window saw a significant uptick, increasing by 39% to $127.93 million, compared to the $92.16 million traded the previous weekend.
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