Naira Down To N1,560/$ In Parallel Market

The Naira yesterday fell in the parallel market to N1,560 per dollar, down from N1,555 per dollar on Tuesday.

But the Naira appreciated to N1,535.4 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 rose to N1,535.4 per dollar from N1,536.8 per dollar on Tuesday, indicating N1.4 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N24.6 per dollar from N18.2 per dollar on Tuesday.