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Market News

Naira depreciates to N1,426 in parallel market - VANGUARD

MARCH 12, 2026

By Elizabeth Adegbesan

The  Naira yesterday  depreciated  to N1,426 per dollar in the parallel market from N1,420 per dollar on Tuesday.

But the naira appreciated to N1,373.5 per dollar in the Nigerian Foreign Exchange Market,  NFEM .Data  from the Central Bank of Nigeria,  CBN, showed that the indicative exchange rate for the naira fell to N1,373.5 per dollar from N1,390.5 per dollar on Tuesday ,  reflecting  N17 appreciation for the naira. 

Consequently, the margin between the parallel and official markets widened  to N52.5 per dollar from N29.5 per dollar  on Tuesday.

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