Global Affairs Magazine

Naira Appreciates to N1,382.35 per dollar

Naira Appreciates to N1,382.35 per dollar
  • PublishedMarch 22, 2024

Yesterday, naira reportedly depreciated from N1,450 per dollar to N1,480 per dollar in the parallel market.

However, the naira appreciated to N1,382.35 per dollar in the Nigerian Foreign Exchange Market (NAFEM) yesterday.

According to data from FMDQ, the indicative exchange rate for NAFEM fell to N1,382.35 per dollar from N1,492.61 per dollar on Wednesday, indicating N110.26 appreciation for the naira.

Therefore, the margin between the parallel market rate and NAFEM increased from N42.61 per dollar on Wednesday to N97.65 per dollar Thursday.

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Written By
Regina Robinson

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