Business

Naira Appreciates Marginally to N1,593 on NAFEX Despite Parallel Market Depreciation

The naira appreciated slightly on the Nigerian Autonomous Foreign Exchange (NAFEX) on Friday, closing at N1,593.32 to a dollar, stronger than the N1,639 to a dollar it closed the previous day.

On the NAFEX window, the naira gained N45.98 to close at N1,639 to a dollar. However, the nation’s currency depreciated on the parallel market by N13 to close on Friday at N1,673/$1 compared to N1,660/$1 it exchanged on Thursday.

Daily transaction volumes saw an increase as the daily turnover increased 31.96 percent, reaching $245.17 million on Friday, compared to $185.79 million recorded on Thursday.

The highest spot rate observed on Friday was N1,665 while the lowest spot rate recorded was N1,580.

The naira had depreciated between Tuesday and Thursday, due to liquidity shortfall. The naira had lost around 70 percent of its value against the US currency since foreign exchange controls that had kept it artificially strong were lifted last year, Bloomberg had reported.

It found a degree of stability earlier in 2024 after the central bank took steps to shore it up, including aggressively raising interest rates, but has recently been back under pressure.

Nume Ekeghe

Follow us on:

AriseNews

View Comments

  • INFORMATION IS FROM THE NIGERIA PORT AUTHORITY FOR AUCTION FOR MORE INFORMATION Call or message on WhatsApp O8O__6739__9O9O.
    RICE AVAILABLE FOR SALES ARE :-
    MamaGold=29,500
    Royal umbrella=29,500
    Mama Gold=29,500
    Rising sun=29,500
    Mama Africa=29,500
    Elephant Gold=29,500
    Caprice =29,500
    NOTE: Delivery fee IS (#4000)RECRUITMENT AND REPLACEMENT FORM IS NOW ON SALE INTERESTED APPLICANTS SHOULD CONTACT ME NO O8O__6739__9O9O FOR THE QUALIFICATION WANTED ARE SSCE, HND, ND, BSC, OND, DIPLOMA AND MASTER DEGREE HOLDER)
    IMPOUNDED VEHICLES AND BAGS OF RICE FOR SALE AT CHEAP PRICE ₦19,500 AND VEGETABLES OILS ₦7,000 SOME OF THE CARS FOR SALE ARE GOLF 2,3,4 ₦450,000 - ₦950,000
    MINI BUS #950,000
    Toyota Camry Tiny light ₦800,000
    Toyota Corolla ₦1.2 Million naira
    Toyota picnic ,#950,000
    Toyota spider -1.3 Naira
    Toyota matrix ₦950,000
    Toyota Sienna ₦1.3Millon Naira
    Toyota 4rRunner ₦2.5Million Naira
    Toyota Avalon ₦1.2 Million Naira
    Toyota Highlander ₦2.5Million Naira
    Toyota muscle ₦1.2Million Naira
    Toyota Haice Bus ₦1.2Million Naira
    Toyota Rav4 ₦2.5Million Naira
    Toyota Sequoia ₦5.2million Naira

    Dyna Truck 1.3Million
    Tipper head 10m

    Toyota Tacoma₦2.2million
    Toyota Tundra ₦4million
    Toyota Yaris ₦1 million Naira
    Honda Baby Boy ₦970,000
    Honda Accord EOD ₦960,000
    Honda Crosstour ₦950,000
    Honda CR-V ₦1.3Millon Naira
    Honda Pilot ₦4.3Million Naira
    Toyota Hilux ₦3.6million Naira
    LEXUS IS300 #2,500,000
    LEXUS Ex300 #3,000,000
    LEXUS Ex330 #3,500,000
    LEXUS Ex350 #4,000,000

    LEXUS RX300 #3,000,000
    LEXUS Rx330 ₦3,500,00
    Lexus Rx350 ₦4,500,000
    LEXUS Rx460 ₦5,200,000
    Acura MDX ₦3.4million Naira
    Acura ZDX ₦3.6million Naira
    BMW X5 ₦2.5Million Naira
    Infiniti FX35 ₦2.5Million Naira
    Infiniti FX45 ₦2.5Million Naira
    Mercedes-Benz C-300 #2.6M
    Mercedes-Benz C-Class= ₦950,000
    Mercedes-Benz E-Class= ₦1.1M
    Mercedes-Benz GLK= ₦4.5m
    Mercedes-Benz ML320= ₦850,000
    Mercedes Benz ML330= ₦1.8M
    Mercedes-Benz ML350= ₦5.2M
    Range rover vogue 8m
    Range rover 5,500,000
    Range rover sport HSE 10m

    AND MANY MORE EXCLUSIVE OFFER'S LIKE.....
    LAPTOPS, GENERATOR'S, FRIDGE, CONTAINERS, PHONE, MOTORCYCLE, AND KEKE.

    👉KEKE MARUWA.
    Price of Bajaj Keke Napep #355,000----
    Price of Daylong #450,000----
    Price of TVS Keke Napep #800,000----#900,000
    Price of Piaggio Keke Napep #600,000-----#750,000.

    👉 CONTACT 08O ___-6739 __-9O9O Bags of cement #3,500
    Delivery cost is #1,000
    FOR MORE INFORMATIONS CONTACT ME ONO8O__6739__9O9O. or WhatsApp
    NOTE: ALL VEHICLES ARE IN GOOD CONDITIONS AND DELIVERY IS AVAILABLE TO ALL THE 36 STATES IN NIGERIA THANKS FOR YOUR PATRONAGE.

Recent Posts

Tinubu: I’m Not In Office For Personal Gain But To Serve Nigeria

President Bola Tinubu on Friday declared that his purpose for seeking the nation's number one…

2 hours ago

Kano Partners Tony Blair Institute to Unlock $23.5m Investment in Energy Sector

Kano state government is partnering Tony Blair Institute for Global Change to attract $23.5 million…

2 hours ago

Nigeria Says Legal Frameworks to Safeguard Country’s Biodiversity Being Reviewed

Nigeria's federal government has said it is currently reviewing the nation’s legal frameworks, among other…

2 hours ago

Abuja, Port Harcourt Airports Win International Awards

The Nnamdi Azikiwe International Airport, Abuja, and the Port Harcourt International Airport have been recognised…

2 hours ago

Tinubu Shelves Plans To Attend UNGA + Obaseki Clarifies ‘Do Or Die’ Statement On Edo Elections – Trending With Ojy Okpe

https://cdn.veri.app/13646108-d5ec-478b-a54c-b01f60dbca29.mp4 President Bola Ahmed Tinubu On Thursday directed Vice President, Kashim Shettima to lead Nigeria’s…

7 hours ago

Harris on Gun Ownership: ‘If Somebody Breaks In, They’re Getting Shot’

The United Sates (US) Vice President Kamala Harris has expressed her willingness to use her…

7 hours ago