Brands and Marketing
Naira Drops To N1,490/$ In Parallel Market

Naira Drops To N1,490/$ In Parallel Market
Yesterday, the value of the Nigerian Naira against the US Dollar in the parallel market depreciated to N1,490 per dollar from N1,470 per dollar on Tuesday. This brought the Naira closer to the N1,500 threshold.
However, in the Nigerian Foreign Exchange Market (NAFEM), the Naira actually appreciated to N1,455.59 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,455.59 per dollar from N1,482.57 per dollar on Tuesday, indicating an appreciation of N26.98 for the Naira.
As a result, the difference between the official exchange rate and the parallel market exchange rate increased to N34.41 per dollar yesterday, compared to N12.57 on Tuesday.
-
Headline1 week ago
Dubai Sets To Open World’s Largest Tech Expo, See Date
-
Headline1 week ago
WhatsApp Sets For Major Upgrade — Here’s What The New ‘Username’ Update Means
-
Headline1 week ago
See Why Court Declares Arrest Of Ex INEC Chair, Prof Mahmood Yakubu
-
Education1 week ago
FULL LIST: UI Tops Nigeria’s Best Varsity For 2026
-
Headline6 days ago
Senate Won’t Be Held Hostage By Any Member, Says Akpabio
-
Headline1 week ago
BREAKING: Tinubu Orders Immediate Review Of 2026 Hajj Fares
-
Crime1 week ago
UPDATED: Police Detain 12 Suspects Over Killing Of Arise TV Anchor
-
News6 days ago
Venezuela’s Machado Clinches Nobel Peace Prize, See Her Journey To The Award
-
Headline7 days ago
2026 W’CUP Q: Lesotho Vs Nigeria – See Date, Time and Where To Watch
-
Headline1 week ago
Council Of State Held A Close-door Meeting, Decides New INEC Chairman