US dollar supply surged by 50 per cent to $248.75 million as Nigeria's currency, the Naira, continued its appreciation on Thursday at the foreign exchange market.
data showed that USD transactions increased to $248.75 million on Thursday compared to $122.18 million recorded on Tuesday. The development led to the continued appreciation of Naira, which stood at N1608.98 per US dollar compared to N1,615.94 on Wednesday. At the parallel market, the country's currency traded for an average of N1,610 per USD. This showed that the gap between the official and parallel foreign exchange markets had closed significantly.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Naira depreciation continues against USD at Forex Market days after Binance exitThe Naira continued its depreciation against the US dollar at the close of the official foreign exchange market on Friday, days after Binance's discontinued Naira-denominated transactions. FMDQ data showed that it dropped to N1627.40 per USD on Friday from N1,602.17 on Monday. This represents a N25.23 or 1.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
USD dollar supply surges by 21% as Naira appreciates at FOREX marketThe US dollar turnover transactions surged by 21 per cent to $122.18 million as the Naira appreciated against the US dollar on Tuesday at the foreign exchange market. FMDQ data showed that USD transactions increased to $122.18 million compared to the $96.13 million recorded on Monday. The development comes as the Naira records N14.
Source: DailyPostNGR - 🏆 11. / 59 Read more »