Naira Down To N1,540/$ In Parallel Market

Yesterday, the Naira fell to N1,540 per dollar in the parallel market, down from N1,537 per dollar on Tuesday.

But the Naira appreciated to N1,522 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,522 per dollar from N1,525.45 per dollar on Tuesday, indicating N3.45 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N18 per dollar from N11.55 per dollar on Tuesday.