Naira Depreciates To N1,530/$ In Official Market

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Naira
Naira

The Naira fell in the parallel market to N1,530 per dollar, down from N1,525 per dollar on Thursday.

The Nigerian Autonomous Foreign Exchange Market, or NAFEM, saw the Naira rise to N1,459.02 per dollar yesterday.

 

According to FMDQ data, the indicative exchange rate for NAFEM fell to N1,459.02 per dollar from N1,520.4 per dollar on Tuesday, representing a naira appreciation of N61.38.

 

As a result, the gap between parallel market and NAFEM rates widened to N70.98 per dollar from N5.4 per dollar on Thursday.