Naira depreciates to N1,465/$ in parallel market

The naira yesterday depreciated to N1,465 per dollar in the parallel market from N1,445 per dollar on Tuesday.
However, the naira appreciated to N1,418.78 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,418.78 per dollar from N1,433.89 per dollar on Tuesday, indicating N15.11 appreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates widened to N46.22 per dollar yesterday from N11.11 per dollar on Tuesday.


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