Naira Depreciates To N1,537/$ In Official Market

The Naira depreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM) yesterday, slightly exceeding the parallel market rate by N2.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,537 per dollar from N1,536 per dollar on Tuesday, indicating N1 depreciation for the naira

But the naira appreciated to N1,535 per dollar in the parallel market from N1,555 per dollar on Tuesday.