The Naira rose to N1,490 per dollar in the parallel market yesterday, up from N1,495 per dollar the previous weekend.
In a similar vein, the Nigerian Foreign Exchange Market (NFEM) saw the naira weaken to N1,416.5 per dollar. The indicative exchange rate for the naira dropped to N1,416.5 per dollar from N1,421.9 per dollar last weekend, according to data from the Central Bank of Nigeria (CBN), indicating a N5.4 appreciation for the naira.
BrandSpur banking and finance news desk reports that as a result, the gap between the parallel and official markets increased to N73.5 per dollar, up from N73.1 per dollar last Friday.
