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Naira Down To N1,615 /$ In Parallel Market

Posted by Samuel on Thu 22nd Aug, 2024 - tori.ng

However, the Naira appreciated to N1,543.84 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Naira

Yesterday, the Naira fell to N1,615 per dollar in the parallel market, down from N1,610 per dollar on Tuesday.

However, the Naira appreciated to N1,543.84 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,543.84 per dollar from N1,592.06 per dollar on Tuesday, indicating N48.22 appreciation for the naira.

The volume of dollars traded (turnover) in NAFEM rose by 12.8 percent to $171.79 million from $152.26 million traded on Tuesday. Consequently, the margin between the parallel market and NAFEM rate widened to N71.16 per dollar from N17.94 per dollar on Tuesday.