Naira Gains Momentum in Parallel Market: A Positive Shift in Exchange Rates,See the current Value
Naira Gains Momentum in Parallel Market: A Positive Shift in Exchange Rates,See the current Value
Naira and Dollars
The Naira gained value yesterday, rising to N1,725 per dollar in the parallel market, up from N1,730 on Monday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also saw improvement, appreciating to N1,630.45 per dollar from N1,670.65, marking a significant increase of N40.2.
Trading volume in the official market surged by 198.8%, reaching $242.59 million compared to just $81.17 million on Monday.
As a result, the gap between the parallel market and the NAFEM rate expanded to N94.55 per dollar, up from N59.35 the previous day.
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