See What Just Happens to Naira Against Dollar in Parallel Market
See What Just Happens to Naira Against Dollar in Parallel Market
Naira and Dollar
The Naira fell to N1,555 per dollar in the parallel market yesterday, down from N1,545 per dollar last Friday. Concurrently, it also weakened in the Nigerian Autonomous Foreign Exchange Market (NAFEM), reaching N1,577.29 per dollar.
According to FMDQ data, the indicative exchange rate for NAFEM rose to N1,577.29 per dollar from N1,563.8 per dollar last Friday, showing a depreciation of N13.49 for the Naira.
The turnover in the market surged by 21.3 percent, with $153.53 million traded, compared to $126.5 million on Friday.
As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N18.8 per dollar, maintaining the same margin as last Friday.
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