Naira appreciates by 0.17% against Dollar at NAFEM

Date:

December 19, 2023.

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

Azonuchechi Chukwu.

The intraday high recorded N1249/$1 as the Naira gained marginally against the dollar on Monday, 18th December 2023 both at the official market and the black market.

The domestic currency appreciated 0.17% to close at N888.35 to a dollar at the close of business, data from the NAFEM where forex is officially traded, showed.

This represents an N1.51 gain or a 0.17% increase in the local currency compared to the N889.86 closed on Friday.

The intraday high recorded was N1249/$1, while the intraday low was N720/$1, representing a wide spread of N529/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $137.82 million, representing a 230.82% increase compared to the previous day.

Similarly, the naira gained marginally at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1235/$1, representing a 0.81% gain over what it closed the previous day, while peer-to-peer traders quoted around N1214.10/$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.

Share post:

Subscribe

Popular

More like this
Related

Naira Depreciates Against Dollar in the official market

February 22, 2024. Azonuchechi Chukwu. The Naira experienced a notable depreciation...

FG to resume repair work on Third Mainland Bridge on Thursday

February 22, 2024. Azonuchechi Chukwu. The Federal Government has declared that...

President Tinubu appoints Ibrahim Gaga as new Executive Director of NEXIM Bank

February 22, 2024. Azonuchechi Chukwu. President Bola Tinubu has approved the...

Wema Bank rewards winners in 5 for 5 promo

February 22, 2024. Azonuchechi Chukwu. Wema Bank Plc has announced that...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com