Market News

Naira Gains At Parallel Market To N1,620/$1, Official Rates Dips To N1,615/$1 - ARISE NEWS

FEBRUARY 28, 2024

The highest and lowest spots on Tuesday were at N1778 and N1,300.

The naira on Tuesday again returned to gaining at the parallel market as it appreciated to N1,620/$.

However, the official Nigerian Autonomous Foreign Exchange (NAFEM) depreciated closing on Tuesday at N1,615.94 signifying a N33 loss compared to N1,582.94 it closed on Monday.

The parallel market however returned to gaining as it closed the N1,620 compared to the N1,680 it closed on Monday signifying N60 gain.

However, the daily turnover recorded on Tuesday was $154.16 million, the same rate quoted the previous day.

Also, the highest spot rate on Tuesday was pegged at N1778, while the lowest spot rate recorded was N1,300.

Nume Ekeghe


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