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Naira continues to fall, exchanges for N1,585/$ in parallel market
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,533 per dollar from N1,538 per dollar last week Friday, indicating N5 appreciation for the naira.
The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar last weekend.
But the Naira appreciated to N1,533 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,533 per dollar from N1,538 per dollar last week Friday, indicating N5 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N52 per dollar from N42 per dollar last weekend.
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