Breaking News
Naira depreciates further, exchanges for N1,580/$ in parallel market
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,542 per dollar from N1,520 per dollar on Thursday, indicating N22 depreciation for the naira.
The Naira today depreciated to N1,580 per dollar in the parallel market from N1,525 per dollar on Thursday.
Similarly, the Naira depreciated to N1,542 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 rose to N1,542 per dollar from N1,520 per dollar on Thursday, indicating N22 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N3 per dollar from N5 per dollar on Thursday.
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