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BREAKING: Naira Falls To N1,635 Per Dollar In Parallel Market
BREAKING: Naira Falls To N1,635 Per Dollar In Parallel Market
According to recent report, In the parallel market, the naira depreciated to N1,635 per dollar, a decline from N1,625 per dollar last weekend.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated to N1,585.77 per dollar, up from N1,598.56 per dollar last weekend, representing a gain of N12.79.
According to data from FMDQ, the total value of dollars traded in NAFEM plummeted by 58.8% to $71.18 million, down from $172.8 million on Friday.
As a result, the gap between the parallel market and NAFEM rates expanded to N49.23 per dollar, from N26.44 per dollar last weekend.
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