Naira Hits N1,376 in Parallel Market, Matches Official Rate

By —

The naira appreciated to N1,376 per dollar in the parallel market on Friday. This is the same rate as the official market. The rate dropped from N1,387 per dollar on Thursday.

But in the Nigerian Foreign Exchange Market, NFEM, the naira depreciated to N1,375 per dollar. Traders say demand pressures remain in the official window.

Analysts are watching for further convergence between the two rates. The Central Bank has been pushing for a unified exchange rate.

Forex News

SEC admits 7 more crypto firms into regulatory sandbox, total now 9
ABOKI FOREX
Petrol Price War: Marketers Slash PMS Costs by Up to N43 as Dangote Refinery Cuts Again
ABOKI FOREX
Why petrol landing cost is falling below Dangote refinery price
ABOKI FOREX
Beta Glass Plc Posts ₦37.5bn Revenue, Elects New Board at 52nd AGM
ABOKI FOREX
Why petrol is still above N1,000: Dangote, importers battle for market control
ABOKI FOREX
Cooking gas prices drop by over N1,000 per kg as depots cut rates
ABOKI FOREX
Naira Mixed Against US Dollar: Gains in Official Market, Falls in Black Market
ABOKI FOREX
NNPC Slashes Petrol Pump Prices Again, Lagos Drops to N1,170 and Abuja to N1,210
ABOKI FOREX
Dangote Cement chairman blames energy costs, forex for high cement prices
ABOKI FOREX
Sycamore assures customers after CBN revokes acquired microfinance bank licence
ABOKI FOREX