Naira Down To N1,510/$ In Parallel Market

The Naira yesterday depreciated to N1,510 per dollar in the parallel market from N1,505 per dollar last weekend.

But the Naira appreciated to N1,499 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 fell to N1,499 per dollar from N1,500 per dollar last week Friday, indicating N1 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N11 per dollar from N5 per dollar last weekend.

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