News

Naira rises to N1,580/$ in parallel market

Kindly share this story

The Naira yesterday appreciated to N1, 580 per dollar in the parallel market from N1,610 per dollar last week Friday. But, the Naira yesterday depreciated to N1,611.4 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,611.4 per dollar from N1,609.29 per dollar over the weekend, indicating N2.11 depreciation for the naira.

The volume of dollars traded (turnover) in the market increased by 6.3 percent to $179.34 million from $168.63 million traded last weekend. Consequently, the margin between the parallel market and NAFEM rate widened to N31.4 per dollar from 71 kobo per dollar last week Friday.


Discover more from starmich blog

Subscribe to get the latest posts sent to your email.

starmich

Michael Tanyare Professionally known as Starmich is a talented and accomplished individual with a passion for excellence. With a strong background in writing, Michael has established himself as a respected professional in the blogging industry. Beyond his professional endeavors, Michael is known for his diverse range of interests. He is an avid online journalist, which further showcases his well-rounded personality and passion for exploring new horizons. Michael's commitment to continuous growth and learning is evident in his pursuit of excellence. This drive allows him to stay at the forefront of emerging trends and maintain a competitive edge in his field. With a warm and approachable demeanor, Michael is highly regarded for his strong communication skills and ability to connect with others. He thrives in collaborative environments and enjoys building meaningful relationships with colleagues and clients alike. In his free time, Michael enjoys surfing the internet. This balance between his professional and personal life reflects his belief in leading a fulfilling and well-rounded lifestyle. With a proven track record of success and a genuine passion for his work, Michael Tanyare continues to make a significant impact in his field. His dedication, expertise, and personable nature make him a valuable asset to any project or team."

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Discover more from starmich blog

Subscribe now to keep reading and get access to the full archive.

Continue reading