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Nairaland Forum / Nairaland / General / Business / BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM (431 Views)
Exchange Rate Gains For Third Straight Day On Official Market / Naira Falls To ₦1,200/$ In Parallel Market, Gains 11% In NAFEM / Nigerian Stocks Hit Highest Level Ever (2) (3) (4)
BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by Benwallt(m): 8:57pm On Oct 30, 2023 |
The exchange rate between the naira and dollar fell to the lowest level ever on NAFEM where forex is sold officially. This represents a massive 20.5% depreciation marking the lowest level ever recorded by the naira against the dollar. Before now, the lowest level was N848/$1 recorded on the 17th of October 2023 which represented a one day 8.17% depreciation at the time. The market also recorded a turnover of $88.3 million a 66% drop from $259.8 million recorded last Friday. Intra-day highs and lows were N998/$1 and N475/$1 respectively. The intra-day low is rather remarkable, and represents a N523/$1 discount to the closing day rate. The depreciation experienced on the official market is a stark difference from the black market where the exchange rate appears to have appreciated over the last 3 trading days. |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by TemplarLandry: 9:10pm On Oct 30, 2023 |
![]() Hellu Pee crawlers don't want good for Nigeria. |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by viyon02: 9:19pm On Oct 30, 2023 |
Trust this news on your own peril 1 Like |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by Sirmwill: 9:37pm On Oct 30, 2023 |
Really |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by Sirmwill: 9:39pm On Oct 30, 2023 |
viyon02: Meanwhile Templarlandry Nairaland DJ has booked ftc to do his avocation that he is being paid to do by the Agbado king |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by AllDModsAreMaad: 11:14pm On Oct 30, 2023 |
TemplarLandry: Are you this du mb? They said something depreciated but you're foa ming in the mouth? Can't you read and understand? Well, I don't expect you to have sen se sha, an average agb ado person doesn't know jack. |
Re: BREAKING: Exchange Rate Falls To N993/$1, Lowest Level Ever On Official NAFEM by AllDModsAreMaad: 11:15pm On Oct 30, 2023 |
viyon02: How, the news is actually not a good one for the naira na. |
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