Naira down to N1,565/$ in parallel market

THE Naira yesterday depreciated to N1,565 per dollar in the parallel market from N1,555 per dollar on Monday.
But the Naira appreciated to N1,510.33 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by FMDQ showed that the indicative exchange rate for the Naira fell to N1,510.33 per dollar from N1,512.58 per dollar on Monday, indicating a N2.25 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N54.67 per dollar from N42.42 per dollar Monday.