Tag
PARALLEL MARKET
News and stories about parallel market
Naira lost 20 kobo against the US Dollar on Wednesday to close at N408.8/$1 at the NAFEX window, while oil price hit $67 per barrel
Naira appreciated against the US Dollar at the Investors and Exporters window on Tuesday.
The exchange rate between the Naira and the US Dollar closed at N400/$1 at the I&E window for the second consecutive day.
The exchange rate between the Naira and the US Dollar traded for as high as N422.59 at the I&E window.
The US dollar stands at ₦470/US$1 in the parallel market
The Naira appreciated against the dollar to close at N462/$1 on Thursday.
The sales of forex to BDCs will inject more liquidity to the retail end of the foreign exchange market.
Forex turnover at the I&E window increased substantially by 442% on Tuesday.
In contrast, the exchange rate at the parallel market gained on Wednesday as it closed at N477/$1.
Exchange rate strengthens after Sallah holiday fall
Exchange rate disparity between the parallel and black market remains as high as N85.75
The official exchange rate at NAFEX is closer to breaching the N30 ceiling.