Market News
Naira depreciates to N1,565/$ in parallel market - NIGERIAN TRIBUNE
The naira weakened further against the dollar on Thursday, sliding to N1,565 per dollar in the parallel market, down from N1,540 traded the previous day.
In the official segment, the local currency also lost value, settling at N1,534 per dollar in the Nigerian Foreign Exchange Market (NFEM).
According to figures released by the Central Bank of Nigeria (CBN), the official rate dropped by N3, from N1,537 per dollar on Wednesday to N1,534, marking continued pressure on the currency.
As a result, the disparity between the official and parallel market exchange rates widened to N31 per dollar, compared to N13 recorded the previous day.
