Home Business Banking & Finance Naira drops to 1,520/$

Naira drops to 1,520/$

59 second read
0
0
37

The Naira yesterday depreciated to N1,520 per dollar in the parallel market, from N1,470 per dollar last week Friday.

Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market (NAFEM), to N1,478.11 per dollar.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,478.11 per dollar from N1,466.31 per dollar last weekend, indicating N11.8 depreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rates widened to N41.89 per dollar from N3.69 per dollar last weekend.

Load More Related Articles
Load More By Breezynews
Load More In Banking & Finance

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Why I relocated to US — Sam Adeyemi

Founder and Senior Pastor of Daystar Christian Centre, Sam Adeyemi has revealed the reason…