Naira Appreciates Against Dollar by 21.4% at NAFEM

Date:

December 12, 2023.

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Azonuchechi Chukwu.

Nigerian Naira opened the week with a 21.4 per cent or N256.76 gain on the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, December 11.

On the previous market day, the local currency plunged to N1,099.05/$1 in the official window but at the close of transactions yesterday, it improved its value to N864.29/$1.

This happened as the turnover for the trading session depreciated by $4.89 million or 3.6 per cent to $132.46 million from the $137.35 million recorded in the previous trading session, according to data from the FMDQ Securities Exchange.

In the black market, the Naira lost N10 against the US Dollar on the first trading session of the week to finish at N1,210/$1, in contrast to the preceding session’s rate of N1,200/$1.(www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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