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Naira Depreciates To N1,560/$ In Parallel Market
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8/28/2025, 5:43:23 AM
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8/14/2025, 6:58:47 AM
By Eniekenemi Atoukudu - 8/14/2025, 6:58:29 AM
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The naira yesterday weakened in the parallel market, falling to ₦1,560 per dollar from ₦1,555 on Tuesday. However, it strengthened in the Nigerian Foreign Exchange Market (NFEM), closing at ₦1,535.4 per dollar. According to Central Bank of Nigeria (CBN) data, the official rate improved from ₦1,536.8 per dollar on Tuesday, reflecting a ₦1.4 gain. As a result, the gap between the parallel market and NFEM rates widened to ₦24.6 per dollar, up from ₦18.2 per dollar the previous day.
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