Naira Depreciates to N1,405/$ in Parallel Market
The Naira diminished to N1,405 per dollar in the parallel market, from N1,305 per dollar on Wednesday.
The Naira diminished in the Nigerian Foreign Exchange Market, NAFEM, to N1,309.88 per dollar.
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Information from FMDQ revealed that the a sign currency exchange rate for NAFEM increased to N1,309.88 per dollar from N1,308.52 per dollar on Wednesday, suggesting N1.36 devaluation for the naira.
The margin in between the parallel market and NAFEM rates broadened to N95.12 per dollar from N45.15 per dollar the previous day.