
FOREIGN EXCHANGE: NAIRA DEPRECIATES TO N1,611 IN NAFEM
The Naira yesterday depreciated to N1,611.34 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,611.34 per dollar from N1,585.77 per dollar on Monday , indicating N25.57 depreciation for the naira.
The volume of dollars traded (turnover) in the market increased by 194.4 percent to $209.61 million from $71.18 million traded on Monday.
However, the Naira appreciated to N1,630 per dollar in the parallel market from N1,635 per dollar on Monday.
Consequently, the margin between the parallel market and NAFEM rate narrowed to N18.66 per dollar from N49.23 per dollar on Monday.
More Stories
DISREGARD FALSEHOOD PEDDLED BY GAMBARYAN AGAINST GOVT OFFICIALS – FG
The Federal Government has urged citizens to dismiss false claims made by Tigran Gambaryan, an American executive of Binance. In...
BRIGHTON 3-0 CHELSEA: MINTEH SCORE BRACE AS SEAGULLS BEAT BLUES TWICE IN ONE WEEK
Yankuba Minteh helped Brighton to a second triumph over Chelsea in a week, as they followed up their FA Cup...
MAN CITY WIN LEGAL BATTLE AGAINST PREMIER LEAGUE OVER APT FINANCIAL RULES
Manchester City secured a legal victory against the Premier League on Friday in a prolonged dispute over financial regulations, with...
INEC CALLS FOR STRICTER LAWS, N50,000 CASH LIMIT TO CURB VOTE-BUYING
The Independent National Electoral Commission (INEC) on Friday urged the National Assembly to implement stricter laws to tackle vote-buying and...
DEATH TOLL FROM KANO TRAILER ACCIDENT CLIMBS TO 23
The number of fatalities from the tragic trailer accident at the Muhammadu Buhari Interchange Flyover in Hotoro, Kano, has increased...
SANWO-OLU COMMISSIONS NEWLY REHABILITATED LAGOS ROAD (PHOTOS)
Governor Babajide Sanwo-Olu of Lagos State has commissioned the newly rehabilitated Chief Yesufu Abiodun Oniru/Akiogun Road in the Eti-Osa Local...