Naira Depreciates To 1,520 Per Dollar In Parallel Market

July 4, 2024 Prince NEWS 0



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The Naira, on Tuesday depreciated in the parallel market to N1,520 per dollar from N1,515 per dollar.

Similarly, the Naira depreciated to N1,512.61 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Continue Reading…

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,512.61 per dollar from N1,509.45 per dollar on Tuesday, indicating N3.16 depreciation for the naira.

The volume of dollars traded (turnover) in the market fell by 98.4 percent to $114.91 million from $213.31 million traded yesterday.

Consequently, the margin between the parallel market and NAFEM rates widened to N7.39 per dollar from N5.55 per dollar. Continue Reading…

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