Naira depreciates to N1,476/$ in parallel market
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By Elizabeth Adegbesan
The Naira today depreciated to N1,476 per dollar in the parallel market from N1,473 per dollar on Thursday.
Similarly, the naira depreciated to N1,446.9 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 N1,446.9 per dollar from N1,445.9 per dollar on Thursday, indicating N1.9 depreciation for the naira.
As a result, the margin between the parallel market and NFEM rate widened to N29.1 per dollar from N27.1 per dollar on Thursday.
The post Naira depreciates to N1,476/$ in parallel market appeared first on Vanguard News.
