The naira depreciated yesterday to N1,395 per dollar in the parallel market from N1,365 per dollar on Thursday.
However, the naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,400.4 per dollar.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,400.4 per dollar from N1,402.67 per dollar on Thursday, indicating N2.27 appreciation for the naira.
The volume of dollars traded (turnover) in the market declined by 13.3 percent to $201.88 million from $232.84 million traded the previous day.
Consequently, the margin between the parallel market and NAFEM rates narrowed to N5.4 per dollar from N37.67 per dollar on Thursday.
READ ALSO:
- APC fixes March 2026 for national convention
- Recall Alert: Avoid Indomie Vegetable noodles – NAFDAC
- Nollywood Actress Doris Ogala Reportedly Arrested Amid Escalating Feud with Pastor Chris Okafor
- Benin Republic detains ex-defence minister over coup attempt
- 12 Persons Killed in Kogi Road Crash After Bus Rammed Into Stationary Truck
- Fire breaks out at FIRS headquarters in Abuja
- Rev Ezekiel Dachomo Claims His Children Are Being Denied University Admission Over Comments On Christian Genocide
- EXCLUSIVE: Nigerian lawmakers abandon budget protests after cash bribes from Tinubu; senators $50,000; reps $30,000
- Debt Servicing Gulps 27% Of N58trillion Nigerian Budget Presented By Tinubu
Leave a Reply