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Naira depreciates, sells for N1,615 in parallel market

The indicated NAFEM exchange rate dropped to N1,593.93 per dollar from N1,606.56 per dollar on Wednesday, according to data from FMDQ, indicating a N12.66 appreciation for the naira. In NAFEM, the amount of money exchanged (turnover) decreased by 3.3% to $155.52 million from $160.94 million on Wednesday.

Published

1 year ago

August 30, 2024

Opinion Nigeria

In the parallel market yesterday, the value of the Naira increased from N1,620 per dollar on Wednesday to N1,615 per dollar.

In a similar vein, the Naira strengthened on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, Wednesday, reaching N1,593.93 per dollar.

As a result, on Wednesday, the difference between the NAFEM rate and the parallel market was N21.07 per dollar, up from N13.41.

Related Topics:Dollar naira

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