Business

See Exchange Rate As Naira Appreciates

Naira appreciated to N1,595 per dollar in the parallel market from N1,610 per dollar.

Thus the Naira has recorded N45 week-on-week, after appreciation from N1,640 per dollar Tuesday last week.

Though the Naira was stable at N1,499 per dollar in the official Nigerian Foreign Exchange Market (NFEM), yesterday, it however recorded N27.3 WoW appreciation from N1,526.3 per dollar last Tuesday.

Consequently, the margin between the parallel market and NFEM rate narrowed to N96 per dollar from N113.7 per dollar on Tuesday last week.

The Naira has been on an upward trend since Thursday, January 23rd when it appreciated to N1,665 per dollar in the parallel market from N1,670 per dollar on Wednesday,y January 22nd.

Similarly, the Naira in the official market appreciated on Thursday, January 23rd, to N1,548 per dollar from N1,553 per dollar on Wednesday, January 22nd.

Since then, the Naira has gained N75 and N54 in the parallel and official market respectively.

Currency traders attributed the upward trend of the Naira to weak dollar demand occasioned by the Chinese New Year holiday.

It was also gathered that banks are now honouring customer requests for Personal Travel Allowance, PTA, and Business Travel Allowance, BTA. Previously, most banks seldom honour customers’ forex requests for PTA and BTA.

newsrainng

Recent Posts

Nigerian Newspaper Headlines, Naija News For Tuesday 13th May 2025

Nigerian Newspaper Headlines, Naija News For Tuesday 13th May  2025, Can Be Accessed Below. NewsRain…

7 hours ago

Black Market Dollar To Naira Exchange Rate Today 13th May 2025

Black Market Dollar To Naira Exchange Rate Today, 13th May 2025, Can Be Accessed Below.…

8 hours ago

Open Heavens Daily Devotional For Today 13th May 2025

Open Heavens Daily Devotional For Today, 13th May 2025, Can Be Accessed Below. Open Heaven is…

8 hours ago

UK Ends Social Care Recruitment, Set To Close Social Care Visas

The UK government has banned international recruitment for social care roles and announced a dramatic…

8 hours ago

ICYMI: Thousands Of UTME Candidates Plan To Sue JAMB Over Mass Failure

Thousands of candidates who scored below 200 in the 2025 Unified Tertiary Matriculation Examination (UTME)…

8 hours ago

ICYMI: Again, Dangote Refinery Reduces Petrol Price

…offers N10 refund to customers Dangote Petroleum Refinery has announced another reduction in the price…

19 hours ago