Business
Naira Strengthens to N1,490/$ in Parallel Market
The Naira appreciated to N1,490 per dollar in the parallel market on Wednesday, strengthening from N1,502 per dollar recorded on Tuesday.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the currency improved slightly, trading at N1,499.8 per dollar, according to data from FMDQ.
The indicative exchange rate published by FMDQ showed a marginal 20 kobo gain, as the rate dropped from N1,501/$ on Tuesday to N1,499.8/$ on Wednesday.
However, the gap between the parallel market and the official exchange rate widened to N9.8 per dollar, compared to 50 kobo the previous day.
The Naira’s recent movements come amid ongoing volatility in the foreign exchange market, with traders closely watching economic policies and forex liquidity levels.
-
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