Nigeria’s currency, the Naira, recorded a slight appreciation against the US dollar on Wednesday across both the parallel market and the Nigerian Foreign Exchange Market (NFEM). In the parallel market, the Naira strengthened to N1,380 per dollar, improving from N1,382/$ recorded on Tuesday. Similarly, in the official market, the Naira appreciated to N1,361 per dollar. Data released by the…
The naira weakened in the parallel market yesterday, sliding to ₦1,380 per dollar from ₦1,376 the previous day. In contrast, the currency recorded its first appreciation in over two weeks at the Nigerian Foreign Exchange Market (NFEM), closing at ₦1,382.65 per dollar compared to ₦1,390 on Tuesday. Data from the Central Bank of Nigeria (CBN)…
The naira appreciated to N1,560/ in the parallel market on Monday, up from N1,565/ last Friday. However, in the Nigerian Foreign Exchange Market (NFEM), it depreciated slightly to N1,538.4/, compared to N1,534.9/$ last weekend — a drop of N3.5. As a result, the gap between the official and parallel market rates narrowed to N21.6, down…
On Friday, the Naira strengthened slightly in the parallel market, closing at ₦1,550 per dollar, a ₦5 improvement from ₦1,555 recorded the previous day. In contrast, the currency edged down by ₦1 in the Nigerian Foreign Exchange Market, slipping to ₦1,532/$ from the previous rate of ₦1,531, according to the Central Bank of Nigeria. This…
The Naira yesterday appreciated to N1,695 per dollar in the parallel market from N1,725 per dollar on Tuesday. The Naira remained steady at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to data from FMDQ, the indicative exchange rate for the naira has stayed stable since Monday, following the start of…
