Economy
Naira Takes a Dive to N1,520/$ in Parallel Market
The Naira has taken a dip, now standing at N1,520 per dollar in the parallel market.
According to recent data from FMDQ, the indicative exchange rate for NAFEM has also seen a decline, hitting N1,478.11 per dollar, marking an unfortunate trend for the Nigerian currency.
This depreciation, though not welcomed news, has brought about an interesting observation: the margin between the parallel market and NAFEM rates has widened significantly, now standing at N41.89 per dollar.
While the situation might seem dire, let’s hope for a swift rebound for the Naira.
-
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