Dollar Exchange Rate Naira Struggles In Parallel Market Today 26th November 2024 

Dollar Exchange Rate Naira Struggles In Parallel Market Today 26th November 2024 

The Naira weakened to N1,770 per dollar in the parallel market yesterday, down from N1,750 per dollar over the weekend. Meanwhile, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also depreciated, reaching N1,675.62 per dollar, compared to N1,652.62 per dollar last weekend.……READ MORE 

Data from the FMDQ revealed that the indicative exchange rate for NAFEM rose by N23, from N1,652.62 per dollar to N1,675.62 per dollar.

The volume of dollar transactions decreased significantly by 55.2%, dropping from $243.05 million last Friday to $108.79 million.

As a result, the gap between the parallel market rate and the NAFEM rate expanded, increasing to N117.38 per dollar from N97.38 per dollar over the weekend.

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