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Naira depreciates to N1,505/$ in parallel market
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The Naira today depreciated to N1,505 per dollar in the parallel market from N1,495 per dollar on Thursday.
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Similarly, the Naira depreciated to N1,500 per dollar in the Nigerian Foreign Exchange Market (NFEM)
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,500 per dollar from N1,496 per dollar on Thursday, indicating N4 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N5 per dollar from N1 per dollar the previous day.
