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Naira Appreciates Against Dollar, See Latest Exchange Rate

Posted by Thandiubani on Tue 15th Oct, 2024 - tori.ng

Latest data released by the Nigerian Autonomous Foreign Exchange Market, NAFEM as data from FMDQ showed Naira appreciated against dollar.

The Naira has appreciated against the dollar on Monday, 14th October by exchanging N1,680 per dollar in the parallel market.

This is compared to the N1,690 per dollar it exchanged over the weekend.

Following the same vein, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM as data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,552.92 per dollar from N1,641.27 per dollar last weekend, indicating a massive N88.35 appreciation for the naira.

This happened even as the volume of dollars traded (turnover) in the official market declined by 44 percent to $343.71 million from $616.73 million traded last week Friday.