Mercado Noticias
Naira down to N1,605/$ in parallel market - VANGUARD
By Elizabeth Adegbesan
The naira yesterday depreciated to N1, 605 per dollar in the parallel market from N1,600 per dollar on Monday.
Similarly, the Naira depreciated to N1,609 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN showed that the exchange rate for the naira rose to N1,609 per dollar from N1,605 per dollar on Monday, indicating a N4 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N4 per dollar from N5 per dollar on Monday.
