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Naira down to N1,465/$ in parallel market

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By Elizabeth Adegbesan

THE Naira yesterday depreciated to N1,387 per dollar in the parallel market from N1,383 per dollar last week Thursday.

But the naira appreciated to N1,367.5per dollar in the Nigerian Foreign Exchange Market,  NFEM.

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Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,367.5 per dollar from N1,374 per dollar last week Thursday,  reflecting  N6.5 appreciation for the naira. 

Consequently, the margin between the parallel and official markets widened to N19.5 per dollar from N9 per dollar last week Thursday.

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The turnover in the interbank foreign exchange market increased by 3.2 percent to  $59.93 million from $58.03 million last week  Thursday.

The post Naira down to N1,465/$ in parallel market  appeared first on Vanguard News.

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