Connect with us


Naira Appreciates to N1220/$ in Parallel Market



The naira yesterday appreciated to N1, 225 per dollar in the parallel market from N1, 240 per dollar on Monday.

Similarly, the naira appreciated to N844.85 per dollar in the official Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N844.85 per dollar from N888.35per dollar on Monday, indicating a N43.5 appreciation for the naira.

As a result, the gap between the official and parallel market exchange rates widened to N380.15 per dollar yesterday from N351.65 per dollar last week Friday.

The intraday high of the market stood at N1,189.12 per dollar while the intraday low was N720 per dollar resulting in a gap of N469.12 per dollar.

The volume of dollars traded on the window fell by 19 percent to $1,11.76 million from $137.82 million on Monday. Mr. Sanni Usman, a black market trader, said he bought a dollar at N1,210 yesterday and sold it for N1,225.

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: Follow us on X (Fomerly Twitter) or Facebook

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Latest Updates

Kenya’s President Condemns Russia’s Aggression in Ukraine

Burna Boy sets record for highest-grossing tour by African artist

Nigeria Police Force, Police Service Commission In Bitter Row Over Constables’ Recruitment

Euro 2024: Spain Dominates Croatia, Italy Stages Comeback Win Against Albania

2 Face Partners with NDDC to Empower Niger Delta Music Talents

NAMA clears air on ‘unidentified’ aircraft flying over Aso Rock

Nigerian Court Sentences Native Doctor To Life Imprisonment For Kidnapping, Robbery

BUSTED! Whistleblowers expose ICPC prosecutor, Osuobeni Ekoi Akponimisi’nha, as alleged fake lawyer, an impostor

Embattled Finidi George Resigns as Super Eagles Coach

National Assembly Recommends Seizing Allocations of States, LGs Over Minimum Wage Default

Subscribe to DDM Newsletter for Latest News