Brands and Marketing
Naira Falls To N1,230 Per Dollar In Parallel Market
![](https://onyxnewsng.com/wp-content/uploads/2023/12/Naira-and-Dollar-768x432-1.jpg)
Naira Falls To N1,230 Per Dollar In Parallel Market
The value of the naira dropped to N1,230 per dollar on the black market yesterday, down from N1,225 per dollar the previous week.
In contrast, the naira appreciated to N872.59 per dollar in the official market, showing some positive signs for the local currency.
According to data from the FMDQ, the indicative exchange rate for NAFEM has fallen from N885.88 per dollar to N872.59 per dollar, a N13.29 appreciation for the naira.
The difference between the official and parallel market exchange rates has widened N357.41 per dollar.
This represents an increase from N339.12 per dollar the previous week.
The total volume of dollars traded in the official market also increased by 39% to $127.93 million from $92.16 million the previous week.
This indicates increased activity in the official market, with more dollars being traded overall.
-
Headline1 week ago
JUST IN: FIFA Launches Investigation On Argentinian Players’ Racist Chants
-
Entertainment1 week ago
BREAKING: BBNaija Reduces Grand Prize For 2024 Edition
-
Entertainment1 week ago
Protest Not The Answer, Be Patient With Tinubu – Actor Yul Edochie Urges Nigerians
-
Headline1 week ago
JUST IN: Donald Trump Vows to End Wars, Restore US Power
-
Headline1 week ago
JUST IN: President Tinubu Appoints Walson-Jack As New Head Of Civil Service
-
Entertainment6 days ago
GWR: Nigerian Doctor Breaks Record For Largest Drawing
-
Headline5 days ago
TRANSFER: De Bruyne Agrees Deal To Leave Man City
-
Headline5 days ago
BREAKING: Joe Biden Pulls Out Of Presidential Race, Supports Kamala As Replacement
-
Headline3 days ago
Akpabio Tenders Apology To Natasha Over ‘Nightclub’ Controversy
-
Entertainment6 days ago
My Break From Acting Helped Me Build More Brands – Emeka Ike