Business
Naira appreciates to N1,725/$ in parallel market, declines in official forex market
The Nigerian Naira appreciated in the parallel market yesterday, trading at N1,725 per dollar, up from N1,735 per dollar last Friday.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira experienced a depreciation, closing at N1,676.9 per dollar compared to N1,666.72 per dollar the previous week, indicating a decline of N10.18.
According to FMDQ data, the volume of dollars traded in the official market dropped significantly by 15.6%, with turnover decreasing from $94.2 million to $79.47 million. This shift caused the exchange rate gap between the parallel and official NAFEM markets to narrow, reducing the margin to N48.1 per dollar from N68.28 per dollar last weekend.
These fluctuations highlight ongoing volatility in Nigeria’s foreign exchange markets amid demand pressures and limited dollar supply.
Equatorial Guinea Govt restricts WhatsApp amid scandal involving top official
Mbappe not being number 9 is the problem – Benzema
Why I wont divorce my wife, even if she cheats: Peter Obi
Trump or Harris: America decides in knife-edge election
‘We will struggle to overcome’ – Guardiola opens up on City’s injury woes
Ekiti State Chief Judge, Justice John Adeyeye is dead
BREAKING: FG drops treason charges against minors in #EndBadGovernance protest
Tension as Police teargas workers in Rivers LG
Driver killed as police rescues 23 kidnap victims in Niger
NNL: Kada Warriors appoints Tunde Abdulrahman as new head coach
FIRS officially launches recruitment portal, list positions
Equatorial Guinea official arrested over se*tape scandal involving high-profile figures
Hardship: What I would have done differently by Atiku Abubakar
Actor James Beek opens up on cancer diagnosis
BREAKING: Bobrisky finally jets out of Nigeria
Drama as Umahi orders police to walkout protesting ‘Tinubu supporter’ over property demolition
2027 elections will be a showdown between Nigerians and APC, says Gov Makinde
Meet Baltasar Ebang Engonga, Equatorial Guinea’s financial leader facing controversy
Corruption and Accountability in Journalism: A call for reform within the NUJ-FCT council
Nigerians in Libya faces mass arrests amid tensions over Super Eagles incident
