Naira down to N1,490/$ in parallel market
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By Elizabeth Adegbesan
The Naira yesterday depreciated to N1,490 per dollar in the parallel market from N1,470 per dollar on Tuesday.
Similarly, the naira depreciated to N1,421 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,421per dollar from N1,416 per dollar on Tuesday, representing a N5 depreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N69 per dollar from N54 per dollar on Tuesday.
The post Naira down to N1,490/$ in parallel market appeared first on Vanguard News.
