The Naira yesterday depreciated to N1,603.8 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,603.8 per dollar from N1,586.71 per dollar on Wednesday, indicating N37.95 depreciation for the naira.
The volume of dollars traded (turnover) in the market fell by 23.3 percent to $131.09 million from $171.03 million traded on Wednesday.
Similarly, the Naira yesterday depreciated to N1,580 per dollar in the parallel market from N1,575 per dollar on Wednesday.
Consequently, the margin between the parallel market and NAFEM rate widened to N18.8 per dollar from N11.71 per dollar on Wednesday.
DNews Info is a trusted source for breaking news, insightful commentary, and in-depth coverage of events across Nigeria and beyond. With a commitment to delivering accurate, timely, and engaging stories, we aim to keep our readers informed and empowered. Stay connected for the latest updates in politics, business, entertainment, and more.
Discover more from DnewsInfo
Subscribe to get the latest posts sent to your email.
