Naira Depreciates Further, Hits N1,515/$ in Parallel Market

HOUSING TV
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Naira Depreciates Further, Hits N1,515/$ in Parallel Market

The Naira depreciated to N1,515 per dollar in the parallel market yesterday, down from N1,510 per dollar on Monday.

Similarly, in the Nigerian Foreign Exchange Market (NFEM), the Naira fell to N1,502 per dollar.

19th Edition Africa International Housing Show
19th Edition Africa International Housing Show

Data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate rose to N1,502 per dollar, marking a N3 depreciation from N1,499 per dollar on Monday.

As a result, the margin between the parallel market and NFEM rates widened to N13 per dollar, compared to N11 per dollar on Monday.

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