The Vanguard News article from September 25, 2024, reports that the Nigerian Naira depreciated to N1,658.48 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), a drop from N1,562.66 per dollar earlier in the week. This represents a depreciation of N95.82.
Meanwhile, the volume of dollars traded in the official market rose by 66% to $166.36 million.
The Naira appreciated slightly in the parallel market, narrowing the difference between the NAFEM and parallel market rates to N3.48 per dollar.
Additionally, other news stories include a 25% rise in domestic airfares, a 62% increase in Nigeria’s money supply, and a tragic auto crash in Kano involving police officers.
Peoplesmind