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Naira depreciates to N1,598/$ in parallel market - VANGUARD

JUNE 18, 2025

By Elizabeth Adegbesan

The naira yesterday depreciated to N1,598 per dollar in the parallel market from N1,585 per dollar on Monday.

Similarly, the Naira depreciated to N1,547.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,547.5 per dollar from N1,543 per dollar on Monday, indicating N4.5 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened N50.5 per dollar from N26 per dollar on Monday.

MARKET NEWS

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