Yesterday saw the naira appreciate to N1,620 per dollar within the parallel market, a rise from N1,625 per dollar recorded on Monday. In contrast, the naira depreciated in the Nigerian Foreign Exchange Market (NFEM), settling at N1,598.69 per dollar, down from N1,597 per dollar the day before, marking a N1.69 depreciation.
This shift has led to a reduction in the disparity between the parallel market and NFEM rates, which has contracted from N28 per dollar on Monday to N21.31 per dollar.
The Nigerian stock market closed sharply lower on Thursday as investors lost N1.92 trillion following a wave of sell-offs in...
Dangote Refinery has increased the ex-depot price of premium motor spirit (petrol) by N75, raising it from N1,200 to N1,275...
The Nigerian stock market returned to bullish territory on Tuesday, delivering a N3.205 trillion gain for investors following a one-day...
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