Naira Fell N1,740 to 1$ in Black Market

Naira Fell N1,740 to 1$ in the Black Market today Friday 25, 2024

iexclusivenews – Naira Fell today to N1,740 per dollar in the black market from N1,739 per dollar on Thursday.

Meanwhile, the Naira gained to N1,601.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,600 per dollar from N1,601.2 per dollar on Thursday , indicating N1.2 appreciation for the naira.

However, the volume of dollars traded (turnover) in the official market increased by 23 percent to $284.93 million from $230.99 million traded on Thursday.

Consequently, the margin between the black market and NAFEM rate widened to N140 per dollar from N137.8 per dollar on Thursday.