Naira Trades At N1,347 Per Dollar

The United States (US) dollar has sold for about ₦1,395 on the parallel market, while the naira traded at ₦1,347.44 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday.

The latest official NFEM rate is the most recent available market quotation. However, parallel-market rates may vary depending on location and currency dealers.

Naira Trades At ₦1,332 Officially (NewsCentral TV) — Naira and Dollar Currencies. Credit: Vanguard News.

Bureau de Change (BDC) operators quoted the dollar at about ₦1,380 for buying and ₦1,395 for selling. At the official market rate, $100 exchanges for approximately ₦134,744. Meanwhile, the same amount sells for about ₦139,500 on the parallel market.

This puts the difference between the official and parallel-market selling rates at approximately ₦47.56 per dollar. The exchange rates reflect the latest available quotations for the two markets on Tuesday.

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