The Naira yesterday depreciated to N1,475 per dollar in the parallel market from N1,472 per dollar last weekend.
ADVERTISEMENT
ADVERTISEMENT
But, the naira appreciated to N1,428 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,428 per dollar from N1,431 per dollar last weekend, representing a N3 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N47 per dollar from N41per dollar last week Friday.
