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Naira depreciates further, exchanges at N1,580/$ in parallel market
Similarly, the Naira depreciated to N1, 581.65 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,581.65 per dollar from N1,576.66 per dollar on Tuesday, indicating N4.99 depreciation for the naira.
The Naira yesterday depreciated to N1, 580 per dollar in the parallel market from N1,550 per dollar on Tuesday.
Similarly, the Naira depreciated to N1, 581.65 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,581.65 per dollar from N1,576.66 per dollar on Tuesday, indicating N4.99 depreciation for the naira. The volume of dollars (turnover) traded on the window declined by 21.7 percent to $108.16 million from $138.17 million traded on Tuesday.
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