Breaking News
Naira depreciates further, exchanges at N1,405/$ in parallel market
The indicative exchange rate for NAFEM increased to N1,309.88 per dollar from N1,308.52 per dollar on Wednesday, according to data from FMDQ, suggesting a N1.36 depreciation of the naira.
In the parallel market, the value of the Naira decreased from N1,305 per dollar on Wednesday to N1,405 per dollar.
In a similar vein, the value of the Naira dropped to N1,309.88 per dollar on the Nigerian Foreign Exchange Market (NAFEM).
The indicative exchange rate for NAFEM increased to N1,309.88 per dollar from N1,308.52 per dollar on Wednesday, according to data from FMDQ, suggesting a N1.36 depreciation of the naira.
As a result, the difference in rates between the NAFEM and parallel market grew to N95.12 per dollar from N45.15 per dollar the day before.
