Economy
Naira Appreciates to N1,485/$ in Parallel Market as NAFEM Records 138% Rise in Turnover
The Naira appreciated in the parallel market yesterday, rising to N1,485 per dollar from Monday’s rate of N1,490 per dollar. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also strengthened, appreciating to N1,473.66 per dollar from N1,483.62 per dollar.
According to data from FMDQ, this represents a N9.96 appreciation for the Naira within NAFEM. Additionally, the volume of dollars traded in the market surged by 138.6 percent, climbing to $385.91 million from $161.69 million on Monday.
This fluctuation widened the margin between the parallel market and NAFEM rates to N11.34 per dollar, compared to N6.38 per dollar on Monday.
-
Entertainment2 years agoAdanma Luke Appeals for Forgiveness over Junior Pope’s Death: “I’m Gradually Losing My Life, Please Forgive Me”
-
Security News2 years agoRivers: Tension as Gunmen on Speedboat Abduct Fubara, Police Launch Manhunt
-
Security News2 years agoSoldiers in South East Extort, Humiliate Us While Kidnappers Operate Freely Near Checkpoints, Igbo Women’s Group Alleges
-
Politics2 years agoRevealed: Ajuri Ngelale Fired Over Feud with Onanuga, Despite Medical Cover Story
-
General News2 years agoGov. Soludo Seals Peter Obi’s Campaign Office, Edozie Njoku-Led APGA State Office
-
Security News2 years agoEnugwu-Ukwu in Shock: Deadly Ambush Leaves Multiple Dead, Survivors in Fear
-
General News2 years agoVideo: Moment DSS Staff Erupt in Jubilation as News of Bichi’s Sack Announced
-
Breaking News2 years agoJUST IN: Presidential Adviser Ajuri Ngelale Steps Down Temporarily, Cites Reasons