Brands and Marketing
Naira Falls To N1,615/$ In Parallel Market
Naira Falls To N1,615/$ In Parallel Market
Yesterday, the naira depreciated to N1, 615 per dollar in the parallel market from N1,610 per dollar on Monday.
The Naira also depreciated to N1,602 per dollar in the Nigerian Foreign Exchange Market (NFEM).
According to the data released by the Central Bank of Nigeria (CBN), it showed that the indicative exchange rate for the naira rose to N1,602 per dollar from N1,596 per dollar on Monday, indicating N6 depreciation for the naira.
This development has effectively saw a gap between the parallel market and NFEM rate widened to N13 per dollar from N14 per dollar on Monday.
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