Naira depreciates to N1,600/$ in parallel market,
By Elizabeth Adegbesan
The naira yesterday depreciated to N1,600 per dollar in the parallel market from N1,598 per dollar on Tuesday.
Similarly, the Naira depreciated to N1,550.9 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 N1,550.9 per dollar from N1,547.5 per dollar on Tuesday, indicating N3.4 depreciation for the naira. Consequently, the margin between the parallel market and NFEM rate narrowed to N49.1 per dollar from N50.5 per dollar on Tuesday.
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By Elizabeth Adegbesan The naira yesterday depreciated to N1,600 per dollar in the parallel market from N1,598 per dollar on Tuesday. Similarly, the Naira depreciated to N1,550.9 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 […]
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