Naira Depreciates Against Dollar At Official, Parallel Market


November 14, 2023.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

The Naira depreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the black market, and the Peer-to-Peer (P2P) arms of the foreign exchange (FX) market on Monday, November 13.

In the official market, the local currency went south against the United States currency by 1.9 per cent or N15.27 to sell at N795.41/$1 compared with the previous day’s rate of N780.14/$1 amid improvement in the supply of forex into the spot market.

According to data from the FMDQ Securities Exchange, the value of FX transactions recorded in the trading day increased by 39.3 per cent or $39.23 million to $123.25 million from the $84.02 million achieved last Friday.

The Nigerian Naira also weakened against the American Dollar in the parallel market during the session by N5 to quote at N1,150/$1, in contrast to the preceding session’s value of N1,145/$1.(

Azonuchechi Chukwu
Azonuchechi Chukwu
Ms Azonuchechi Chukwu has a BSC holder in mass communication Ebonyi State University

Share post:




More like this

Why I’m Scared of Cracking Certain Jokes — Comedian AY

December 4, 2023. Azonuchechi Chukwu. Comedian Ayodeji Richard Makun aka AY...

Usefulness of Russian Language Still Blurry for African Learners

By Kestér Kenn Klomegâh Russian language study is hitting...

Nigeria, South Africa’s hydropower plants set for upgrades to boost Africa’s electricity generation

The African Development Bank (AfDB) is drawing up plans...

35-year-old man remanded for allegedly defiling neighbour’s daughter

Ikeja, Dec. 4, 2023. An Ikeja Chief Magistrates’ Court on...
WP to LinkedIn Auto Publish Powered By :