Global Affairs Magazine

Naira falls to N1,295/$ in parallel market 

Naira falls to N1,295/$ in parallel market 
  • PublishedJanuary 16, 2024

The Naira, on Tuesday, fell to N1,295 per dollar in the parallel market. It was N1,265 per dollar yesterday, Monday.

However, the Naira depreciated to N878.57 per dollar in the Nigerian Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose  to N878.57 per dollar from N838.95 per dollar on Monday. This indicates N39.62 depreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates narrowed to N416.43 per dollar today, Tuesday. It was N426.05 per dollar on Monday.

See also  Petrol: NNPC slashes price for marketers to ease scarcity
Written By
Regina Robinson

Leave a Reply

Your email address will not be published.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