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Naira appreciates to N1,515/$ in parallel market - VANGUARD

JUNE 29, 2024

By Elizabeth Adegbesan

The naira appreciated yesterday in the parallel market to N1,515 per dollar from N1,520 per dollar on Thursday.

Similarly, the naira appreciated to N1,505.3 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

I want people to remember the Emirate as a symbol of dignity and peace —Film maker, Zainab Bayero

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,505.3 per dollar from N1,510.1 per dollar on Thursday, indicating N4.8 appreciation for the naira.

The volume of dollars traded in the market fell by 34.6 percent to $187.82 million from $287.21 million on Thursday.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N9.7 per dollar from N10 per dollar on Thursday.

MARKET NEWS

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