Breaking News
Naira further depreciates to N1,250/$ in parallel market
The indicative exchange rate for NAFEM increased to N1,234.49 per dollar from N1,169.99 per dollar last Friday, according to data from FMDQ, suggesting an N64.5 depreciation of the naira.
In the parallel market yesterday, the value of the Naira fell from N1,140 per dollar on Thursday to N1,250 per dollar.
In a similar vein, the value of the Naira dropped to N1,234.49 per dollar on the Nigerian Foreign Exchange Market (NAFEM).
The indicative exchange rate for NAFEM increased to N1,234.49 per dollar from N1,169.99 per dollar last Friday, according to data from FMDQ, suggesting an N64.5 depreciation of the naira.
As a result, last weekend’s difference between the parallel market and NAFEM rates dropped to N15.51 per dollar from N29.99.
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