Naira Depreciates To N1,540/$ In Parallel Market

Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira depreciated to N1,533.99 per dollar.

By Johnson Atoukudu

Yesterday, the Naira depreciated in the parallel market, falling to N1,540 per dollar from N1,530 per dollar on Wednesday.

Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira depreciated to N1,533.99 per dollar.

According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,533.99 per dollar from N1,459.02 per dollar on Wednesday, marking a N74.97 depreciation for the Naira.

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As a result, the gap between the parallel market and NAFEM rates narrowed to N6.01 per dollar from N70.98 per dollar on Wednesday.

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