Naira Appreciates to N1,408/$1 at NAFEM, N1,410 at Parallel Market


March 26, 2024.

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Azonuchechi Chukwu.

The Nigerian Naira continued to gain ground against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) and the parallel market segments of the foreign exchange (FX) market.

In the official market, the Nigerian Naira gained 1.6 per cent or N23.45 against the greenback yesterday to sell at N1,408.04/$1 compared with the preceding session’s N1,431.49/$1, amid an 11.1 per cent or $22.09 million rise in the forex turnover to $22.09 million from the $199.71 million achieved last Friday.

The Naira gained N55 against the Dollar to close at N1,410/$1 versus the previous session’s value of N1,465/$1 at the black market.

Also, the local currency improved its value against the Pound Sterling by N68.17 in the spot market to close at N1,772.78/£1 compared with N1,840.95/£1 and against the Euro, it appreciated by N55.29 to sell at N1,531.29/€1, in contrast to the preceding session’s N1,576.68/€1.(

Azonuchechi Chukwu
Azonuchechi Chukwu
Azonuchechi Chukwu - Business Journalist at Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at 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 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'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'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 team.

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