Business
Breaking: Naira Strengthens With Strong Performance In Parallel Market Oct 29th, 2024 Rate Update
Breaking: Naira Strengthens With Strong Performance In Parallel Market Oct 29th, 2024 Rate Update
On October 29, 2024, the Naira appreciated to N1,730 per dollar in the parallel market, rising from N1,740 per dollar over the weekend. However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM),……CONTINUE READING
the Naira declined, reaching N1,670.65 per dollar compared to N1,600 last Friday—a depreciation of N70.65.
Data from FMDQ showed a 71.5% decrease in dollar turnover within the official market, dropping to $81.17 million from the previous weekend’s $284.93 million. This development has narrowed the gap between the parallel market and NAFEM rates to N59.35 per dollar from last Friday’s N140 difference.
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