Business
N1,680: Naira gains against Dollar in parallel, official markets
The Naira appreciated yesterday, rising to N1,680 per dollar in the parallel market from N1,690 per dollar recorded last weekend.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira strengthened to N1,552.92 per dollar.
Data from the FMDQ revealed that the indicative exchange rate in NAFEM dropped to N1,552.92 from last weekend’s N1,641.27 per dollar, marking an N88.35 gain for the Naira. However, dollar turnover in the official market decreased by 44%, with $343.71 million traded compared to the $616.73 million traded last Friday.
As a result, the exchange rate gap between the parallel market and NAFEM widened significantly to N127.08 per dollar from N48.73 per dollar over the weekend. This fluctuation continues to highlight the volatility of the currency market as the Naira faces pressures from economic challenges and foreign exchange scarcity.
Gov Okpebholo dissolves governing councils of Edo tertiary institutions, hospital management staff
Times has come for Africa to have a united military front – Tinubu
Barcelona extends camp Nou return to mid- February
Nigeria ahead of UK in food, football legends, says Taiwo Awoniyi
NNPCL officially unveils Utapate Crude Oil blend to global market
Nigeria Governors in meeting over stamp duty, constitutional amendment
When shadows linger on the horizon: kettle calling pot black by Usman Abubakar
2027: North’s interest will be best championed by Northerners – ACF
Benin Republic national team allegedly attacked after AFCON Qualifier in Libya
Crises deepen as PDP declares Cross River Chairman’s suspension null and void
Trending Video: Man brutalized by soldiers seek N150m damages, dismissal of General, others
Putin signs decree allowing use of nuclear weapons
IGP drags ex-Senator Andy Uba, others to court over alleged fraud
Enugu chairman appoints SA on garden egg, yam, and pepper
Wike approves ₦70,000 minimum wage, arrears for FCT workers
7 personnel missing as NSCDC special squad neutralizes 59 bandits in Kaduna
Chidimma Adetshina dumps pageantry, announce next move
Why Ifeanyi Ubah’s widow should be allowed to replace him at Senate – Ndume
Army Chief orders probe into alleged brutalization of civilian by soldiers
Abia Govt blames opposition for violent attacks, says IPOB not responsible
