BREAKING: Naira Appreciates To N1,725/$ In Parallel Market

The Naira yesterday appreciated to N1,725 per dollar in the parallel market from N1,735 per dollar last week Friday.....Read The Full Article>>.....Read The Full Article>>

But the Naira depreciated to N1,676.9 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

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Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,676.9 per dollar from N1,666.72 per dollar last weekend indicating N10.18 depreciation for the naira.

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The volume of dollars traded (turnover) in the official market declined by 15.6 percent to $79.47 million from $94.2 million traded last week Friday.

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Consequently, the margin between the parallel market and NAFEM rate narrowed to N48.1 per dollar from N68.28 per dollar last weekend.

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