Category: Exchange and Forex

Naira depreciated to the worst low in recent times exchanging at N1,043.09 to the dollar at the official foreign exchange market on Thursday. This is against N872.59 /$ recorded on Wednesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to dealers, the rate was stronger than N885.88/$ quoted on Friday before the Christmas holidays….

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Yesterday Wednesday, the naira depreciated to N1,230 per dollar in the parallel market from N1, 225 per dollar last week Friday. However, the naira appreciated to N872.59 per dollar in the official Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N872.59 per dollar from N885.88…

Read More “Forex: Naira Drops To N1,230/$ In Parallel Market” »