$ at parallel market — lowest level in seven months

Oct. 1, 2024 - TheCable

The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira depreciated by 1.

49 percent compared to the N1,675/$ traded on Thursday. WEEK-LONG FLUCTUATIONSAdvertisementAt the parallel market on Monday, the naira depreciated to N1,665/$ from N1,663 on September 20.

Maintaining the depreciation streak, the local currency fell further to N1,670 and N1,680 on Tuesday and Wednesday, respectively. At the official FX market, the local currency depreciated to N1,562.

66 on Monday — from N1,541.52 on September 20.

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