Naira rises to N1,590/$ in parallel market

Related Articles

Countdown to Boxing spectacle: GOtv Boxing Night 32 fighters sign contracts

18 hours ago

Sanwo-Olu releases much-anticipated album: ‘From Lagos to the World’

18 hours ago

Nigerian High Court Orders VeryDarkMan To Remove Defamatory Posts Against Falana From All Social Media Handles Within 21 Days

18 hours ago

The Naira yesterday appreciated to N1,590 per dollar in the parallel market from N1,595 per dollar on Wednesday.

Similarly, the Naira yesterday appreciated to N1,596.52 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,593.62 per dollar from N1,596.52 per dollar on Wednesday, indicating N2.9 appreciation for the naira.

The volume of dollars traded in the market increased by 51 percent to $141.99 million from $93.92 million traded on Wednesday. Consequently, the margin between the parallel market and NAFEM rate widened to N3.52 per dollar from N1.52 per dollar on Wednesday.