Economy
Naira Weakens Again In Parallel Market, NAFEM
Naira Weakens Again In Parallel Market, NAFEM
The Naira continued its depreciation yesterday, dropping to N1,680 per dollar in the parallel market, down from N1,655 per dollar on Tuesday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also declined, reaching N1,667.42 per dollar, compared to N1,658.48 per dollar the previous day, marking a drop of N8.94.
FMDQ data further revealed a 39.6% decrease in dollar trading volume in the official market, dropping from $166.36 million on Tuesday to $100.47 million.
This depreciation widened the gap between the parallel market and the NAFEM rate to N12.58 per dollar, up from N3.48 per dollar on Tuesday.
-
Politics5 days agoTinubu Makes Fresh Appointment
-
Latest News4 days agoBreaking: Okpebholo Backs Words With Action As Edo Moves To Establish Special Court For Cultism And Kidnapping Cases, Writes Chief Judge
-
Latest News2 weeks agoAbubakar Momoh Engages CCECC President At Global Infrastructure Forum In China
-
Politics1 week agoAPC Rules Out Any Review Of 2027 Primary Election Results
-
Latest News4 days agoBandits’ Captivity Death: Widow Rejects Illness Claims, Reveals What K!lled General Rabe
-
Politics6 days ago36 Governors Reveal Their Stance On State Police
-
Latest News1 week agoObasanjo Teases Abdulsalami: “I And Gowon May Not Be Alive When You Hit 100
-
Politics2 days agoVIDEO: Shettima, Atiku, Masari, Governors Storm Special Prayer For Tinubu’s Late Mother
-
Entertainment6 days agoDayo Amusa Blasts Peter Obi: “You Can’t Criticize Government And Hide Your Plans
-
Latest News1 week agoYou Can’t Sign Chequebooks!’ — Wike Issues Tough Warning To FCT Area Council Chairmen
-
Latest News2 weeks agoKidnap Suspects Reveal How They Abducted Adelabu’s Sister And Twin Sons
-
Latest News1 week agoBenin Market Kidnapping: Okpebholo Orders Full Investigation