There are indications that the local currency is set to fully reverse its gains as the depreciation trend enters a new height, hitting N1,740/$1 in the parallel market at the close of trading last weekend. However, the Naira remained stable with minor appreciation in the Nigerian Autonomous Foreign Exchange Market, NAFEM, as dealers speculate that…
The Naira yesterday depreciated to N1,739 per dollar in the parallel market from N1,735 per dollar on Wednesday. However, the Naira appreciated to N1,601.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,601.2 per dollar from N1,654.09 per dollar on…
However, the Naira yesterday appreciated to N1,715 per dollar in the parallel market from N1,725 per dollar last weekend. However, the Naira yesterday depreciated to N1,603.16 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,603.16 per dollar from N1,600.78 per…
The Naira yesterday depreciated to N1,625.13 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,625.13 per dollar from N1,561.76 per dollar on Tuesday, indicating N63.37 depreciation for the naira. The volume of dollars traded (turnover) in the official market declined…
