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See Exchange Rate As Naira Further Depreciates In Parallel Market

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2 months ago

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See Exchange Rate Tonight As Black Marcket Exchange Rate Appreciatess

Naira recorded further weakness against the United States dollar, with the margin between the official and parallel market exchange rates widening to N13 per dollar.

Figures from the Nigerian Foreign Exchange Market (NFEM) showed that the naira closed at N1,537 per dollar, a one-kobo depreciation from N1,536.99 per dollar.

In contrast, the parallel market rate slid to N1,550 per dollar from N1,540.

The development pushed the gap between both markets from N3.01 to N13, highlighting renewed pressure on the currency.

Data published by the Central Bank of Nigeria (CBN) confirmed the slight movement in the official window, even as traders reported stronger volatility in the parallel market.

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