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Home Economy Finance

Naira Exchanges N1,739/$ in Parallel Market

by Staff Writer
October 25, 2024
in Finance
0
New naira, naira notes, naira and Dollar
New naira notes

New naira notes

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The Naira yesterday depreciated to N1,739 per dollar in the parallel market from N1,735 per dollar on Wednesday.

However, the Naira appreciated to N1,601.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,601.2 per dollar from N1,654.09 per dollar on Wednesday , indicating N52.89 appreciation for the naira.

The volume of dollars traded (turnover) in the official market increased by 69 percent to $230.99 million from $136.68 million traded on Wednesday.

Consequently, the margin between the parallel market and NAFEM rate widened to N137.8 per dollar from N80.91 per dollar on Wednesday.

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