Brands and Marketing
BREAKING: Naira Appreciates To N1,495/$ In Parallel Market
BREAKING: Naira Appreciates To N1,495/$ In Parallel Market
Yesterday, the Naira saw an increase in value, reaching N1,495 per dollar in the parallel market, up from N1,510 per dollar on the previous day.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated to N1,481.49 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,481.49 per dollar from a Wednesday rate of N1,488.6 per dollar, marking a N7.11 appreciation for the Naira.
The volume of dollars traded on the NAFEM window also rose by 3.83% to $213.31 million compared to the previous day’s $205.43 million.
As a result, the margin between the parallel market and NAFEM rates decreased to N13.51 per dollar from N21.4 per dollar reported on Wednesday.
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