NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
Naira and Dollar notes
The naira depreciated yesterdayto N1,205 per dollar in the parallel market from N1,185 per dollar last Friday.
However, the naira appreciated to N864.29 per dollar in the Nigerian Foreign Exchange Market (NAFEM).
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N864.29 per dollar from N1,099.05 per dollar last weekend, indicating a 21 percent or N234.76 appreciation for the naira.
As a result, the gap between the official and parallel market exchange rates widened to N340.71per dollar yesterday from N85.95 per dollar last week Friday.
The volume of dollars (turnover) traded on NAFEM increased by 4.04 by percent to $560.39 million last week from $584.02 million the previous week. (Vanguard)
