Naira depreciates to N1,475/$ in parallel market
SKAiF NewsNG SNN
By Elizabeth Adegbesan
The Naira today depreciated to N1,475 per dollar in the parallel market from N1,459 per dollar on Thursday.
Similarly, the naira depreciated to N1,444 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,444 per dollar from N1,441 per dollar on Thursday, indicating a N3 depreciation for the naira.
As a result, the margin between the parallel market and the NFEM rate widened to N31 per dollar from N18 per dollar on Thursday.
This week, the naira weakened against the dollar in both the official and parallel markets by N6.5 and N10, respectively.
The post Naira depreciates to N1,475/$ in parallel market appeared first on Vanguard News.
