Nafem - Housing TV Africa https://www.housingtvafrica.com/tag/nafem/ 24/7 Breaking News, Housing News, Real Estate News, Mortgage News, Construction news, Property News Fri, 08 Nov 2024 19:59:31 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 https://www.housingtvafrica.com/wp-content/uploads/2024/11/cropped-467525650_122213590052021108_4825452665835935767_n-32x32.jpg Nafem - Housing TV Africa https://www.housingtvafrica.com/tag/nafem/ 32 32 Naira depreciates to N1,740/$ in parallel market https://www.housingtvafrica.com/naira-depreciates-to-n1740-in-parallel-market/?utm_source=rss&utm_medium=rss&utm_campaign=naira-depreciates-to-n1740-in-parallel-market Fri, 08 Nov 2024 19:59:31 +0000 https://www.housingtvafrica.com/?p=14209

…As NAFEM turnover rises 473% to $1.4 bn The naira today depreciated to N1,740 per dollar in the parallel market from N1,725 per dollar on Thursday . Similarly, the naira depreciated to N1,678.87 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose […]

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]]> …As NAFEM turnover rises 473% to $1.4 bn

The naira today depreciated to N1,740 per dollar in the parallel market from N1,725 per dollar on Thursday .

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Similarly, the naira depreciated to N1,678.87 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,678.87 per dollar from N1,639.5  per dollar on Thursday indicating N49.37 depreciation for the naira.

The volume of dollars traded (turnover) in the official market grew by 473 percent to $1,403.76 million from $244.96 million traded on Thursday .

This is the highest volume traded in years.

Consequently, the margin between the parallel market and NAFEM rate narrowed to N61.13 per dollar from N85.5 per dollar on Thursday.

The post Naira depreciates to N1,740/$ in parallel market appeared first on Housing TV Africa.

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