Business
See Exchange Rate As Naira Depreciates In Parallel Market
Naira has depreciated to N1,620 per dollar in the parallel market from N1,615 per dollar.
Likewise, the Naira depreciated to N1,590 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 N1,590 per dollar from N1,583 per dollar, indicating a N7 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N30 per dollar from N32 per dollar.
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