The Naira yesterday depreciated to N1,455 per dollar in the parallel market from N1,440 per dollar on Monday. But the naira appreciated to N1,349.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,349.5 per dollar from N1,354.9per dollar on Monday reflecting N5.4 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N105.5 per dollar (widest this year) from N85.1 per dollar on Monday.
