Breaking News
Naira makes gain, exchanges for N1,560/$ in parallel market
The parallel market witnessed a 30 depreciation in exchange rate this week compared to 50 kobo gain the previous week.
The Naira today appreciated to N1,560 per dollar in the parallel market from N1,565 per dollar on Thursday.
But the naira appreciated to N1,534 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,535.5 per dollar from N1,534 per dollar on Wednesday, indicating N1.5 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N24.5 per dollar from N31 per dollar the previous day.
The parallel market witnessed a 30 depreciation in exchange rate this week compared to 50 kobo gain the previous week.
However, the official market witnessed no depreciation or appreciation for the naira this week.
Now that the State of Emergency in Rivers State Has Been Lifted -By Tochukwu Jimo Obi
The truth remains that no meaningful development can thrive in an atmosphere of violence, division, and chaos. The political gladiators...
Russia Broadening its Economic Presence in Zimbabwe -By Kestér Kenn Klomegâh
In an acknowledgement, he said, Africa has a great potential for bilateral relationships with Russia. But the relations in many...
Words Will Not Stop the Traumatic Cries of Palestinian Children -By Abdullahi Abubakar Ladan
Our nation’s diplomatic moves on the world stage are commendable, but they are only one half of the equation. We...
The Nepalese Outrage And The Warnings It Holds For African Governance -By Isaac Asabor
Nepal’s current crisis reveals a government that has grown estranged from its citizens. Inflation bites harder every day. Jobs are...
Nepal Bloodshed: Of Nigeria’s Big Masquerades and Gọntọ -By Festus Adedayo
The Siamese of Nepal and Nigeria is not just in both countries’ humongous population rascality of 300 and 200 million...