Nigeria News

BREAKING: Naira crashes against dollar in new exchange rate

The Naira on Wednesday experienced a depreciation to N1,105 per dollar in the parallel market, down from N1,100 per dollar on Tuesday. However, in the Nigerian Foreign Exchange Market (NAFEM), it appreciated to N1,072.74 per dollar.

Data sourced from FMDQ revealed that the indicative exchange rate for NAFEM declined to N1,072.74 per dollar from Tuesday’s N1,148.14 per dollar, marking a N75.4 appreciation for the Naira.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N32.26 per dollar from Tuesday’s N48.14 per dollar.

Treasure Orokpo

A multi-talented individual with a passion for diverse fields, Treasure Orokpo is a trained journalist, skilled cook, and AI enthusiast. When she's not uncovering the latest stories, you can find her whipping up culinary creations in the kitchen and entertainment.

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