Naira depreciates to 1510/$ in parallel market

byPercy Onyeka14/02/2024, 8:22 am26 Views0 Comments

The naira yesterday depreciated to N1,510 per dollar in the parallel market from N1,485 per dollar on Monday.

However, the naira yesterday appreciated to N1499.07 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,499.07 per dollar from N1,534.39 per dollar on Monday, indicating N35.32 appreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates narrowed to N10.93 per dollar yesterday from N49.39 per dollar on Monday.

Agency Report

Naira depreciates to 1510/$ in parallel market

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Written by Percy Onyeka

A seasoned Tech/Business Analyst, Digital Media Consultant , Publisher and Entrepreneur with more than a decade experience. Online Editor in Chief-New National Star newspaper and a host of clients...