Brands and Marketing
Naira Falls To N1,230 Per Dollar In Parallel Market
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.
-
Entertainment1 week ago
How I Ditched Acting For Music Because Of A Guy – Tiwa Savage
-
Headline1 week ago
BREAKING: Former Kwara Senator, Rafiu Ibrahim Is dead
-
Entertainment1 week ago
Naira Abuse: EFCC To Arraign Cubana Chief Priest
-
Entertainment1 week ago
Why I’m Successful In Music Industry – Simi
-
Headline1 week ago
KOGI: Gov. Usman Ododo Inaugurates Two New Commissioners
-
Headline1 week ago
JUST IN: UEFA Fines Barcelona For Fans Racist Act
-
Headline1 week ago
Yahaya Bello, Where Will You Run To? — Presidency Reacts To Former Kogi Governor After Being Declared Wanted By EFCC
-
Headline1 week ago
BREAKING: EU Suspends Israeli West Bank Settlers
-
Education1 week ago
BREAKING: 2024 UTME Commences Off Nationwide With Minimal Glitches
-
Headline1 week ago
UPDATED: PDP Chairman Dumps Party, Switchs To APC Few Hours After NEC Meeting