Connect with us

Business News

Naira falls to N1,474/$ in parallel market

Published

11 months ago

on

The naira yesterday weakened in the parallel market, dropping to N1,474 per dollar from N1,465 recorded on Monday.

However, at the Nigerian Foreign Exchange Market (NFEM), the naira moved in the opposite direction, appreciating to N1,441 per dollar.

Figures released by the Central Bank of Nigeria (CBN) showed that the official exchange rate strengthened from N1,452 per dollar on Monday to N1,441 per dollar on Tuesday, reflecting an N11 gain for the local currency.

As a result, the margin between the parallel market and NFEM rate widened to N33 per dollar from N13 per dollar on Monday.

Follow Very Nigerian WhatsApp Channel
For Verified Breaking News, Exclusive Reports, Trending Stories, And Real-time Updates.
CLICk HERE TO JOIN!
WhatsApp
Related Topics:

Pearl Essien is a digital content creator and a graduate of the prestigious University of Calabar. With over four years of experience in writing, she specializes in crafting engaging stories that inform and inspire readers. Outside of her work, Pearl enjoys storytelling, reading, and playing table tennis, bringing the same curiosity and passion to her hobbies as she does to her writing.

Advertisement Follow Us on Google Discover
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Jobs / Vacancies20 hours ago

Erisco Foods announces 13 job openings across Nigeria – Apply Now
Politics2 days ago

‘You Betrayed Osun People’ — Adeleke, Davido face backlash over support for Tinubu
News2 days ago

Ex-Senator Bello Mandiya’s body found in Abuja home three days after he slipped, hit his head in the bathroom
News20 hours ago

Tinubu reappoints Bala Bila as INEC commissioner, nominates six others
Jobs / Vacancies20 hours ago

House Officers, Nurses, Radiographers, Others wanted as DELSUTH opens recruitment – Apply Now
News2 days ago

‘I love Islam, I’ve sent people to Mecca to pray for me, Nigeria for 25 years’ – Akpabio
News2 days ago

JUST IN: Finnish Appeal Court reduces Simon Ekpa’s jail term to four years, upholds terrorism conviction
Metro2 days ago

Over 10 soldiers, four civilians feared dead as Boko Haram terrorists attack Borno military base
News2 days ago

Zamfara govt set to empower 36,176 residents with Dangote shares
Metro2 days ago

Panic in Rivers community as pipeline explosion injures 20, razes over 50 houses
World1 day ago

Elon Musk unveils Tesla’s ‘flying’ car in stunning demonstration
News2 days ago

Umahi reopens first Niger bridge after emergency repairs, displays Tinubu’s photos
Politics12 hours ago

2027: Step down if you are not working for Tinubu – Deji Adeyanju dares Obi, Kwankwaso
News2 days ago

Tension mounts as NLC rejects FG’s response to 14-day ultimatum
Politics1 day ago

2027: Tinubu to miss rallies in over 20 States as APC releases campaign timetable