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Naira falls to 1520 to a dollar in parallel market

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Last Updated on June 28, 2024 by Fellow Press

The Naira yesterday depreciated in the parallel market to N1,520 per dollar from N1,510 per dollar on Wednesday. Similarly, the Naira depreciated to N1,510.1 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,510.1 per dollar from N1,507.83 per dollar on Wednesday, indicating N2.27 depreciation for the naira. The volume of dollars traded (turnover) in the market rose by 62.8 percent to $287.21 million from $176.39 million traded Wednesday.

Consequently, the margin between the parallel market and NAFEM rates widened to N10 per dollar from N2.17 per dollar on Wednesday.

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Naira rises to ₦1,530 per dollar in parallel market

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Last Updated on July 6, 2024 by Fellow Press

The Naira has appreciated in the parallel market to N1,530 per dollar from N1,535 per dollar on Thursday.

Similarly, the Naira appreciated to N1,509.67 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,509.67 per dollar from N1,520.24 per dollar on Thursday, indicating N10.57 appreciation for the naira.

The volume of dollars traded (turnover) in the market fell by 32.6 percent to $116.88 million from $173.51 million traded on Thursday.

Consequently, the margin between the parallel market and NAFEM rates widened to N20.33 per dollar from N14.76 per dollar on Thursday.

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Nigeria’s public debt stock increases to N121.67trn in Q1 2024 – NBS

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National Bureau of Statistics (NBS)

Last Updated on June 25, 2024 by Fellow Press

Nigeria’s public debt stock increased from N97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023 to N121.67 trillion (91.46 billion dollars ) in the first quarter of 2024.

The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q1 2024 released in Abuja.

The report said Nigeria’s public debt stock, which included external and domestic debts, grew by 24.99 per cent on a quarter-on-quarter basis.

It said that External debt stood at N56.02 trillion (42.12 billion dollars) in Q1 2024, while domestic debt was N65.65 trillion (49.35 billion dollars).

“However, the share of external debt to total public debt stood at 46.05 per cent in Q1 2024, while domestic debt was recorded at 53.95 per cent.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N929.41 billion in Q1 2024, followed by Delta with N334.90 billion.

The report showed Jigawa recorded the lowest domestic debt at N2.07 billion, followed by Ondo at N16.40 billion.

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