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Dollar Strikes Again: Naira Falls As Exchange Rate Gap Widens Today 23rd November 2024
Dollar Strikes Again: Naira Falls As Exchange Rate Gap Widens Today 23rd November 2024
The Naira has seen a slight depreciation, dropping to N1,750 per dollar in the parallel market, down from N1,745 per dollar on Thursday. However, the Naira made gains in the Nigerian Autonomous Foreign Exchange Market (NAFEM), strengthening to N1,652.62 per dollar,.…READ MORE
up from N1,658.67 per dollar the previous day. Data from FMDQ reveals a N6.05 improvement in the Naira’s value against the dollar.
The market saw fluctuations, with an intraday high of N1,703 and a low of N1,640 per dollar. Dollar turnover rose by 48.5% to $243.05 million from $163.66 million, signaling increased trading activity. As a result, the gap between the parallel market and NAFEM exchange rates widened to N97.38 from N86.33 on Thursday.
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