Naira Down To N1,555/$ In Parallel Market

Yesterday, the Naira fell to N1,555 per dollar in the parallel market, down from N1,550 per dollar on Monday.

But the Naira appreciated to N1,534.5 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 slightly to N1,534.5 per dollar from N1,534.8 per dollar on Monday, indicating 30 kobo appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N20.5 per dollar from N15.2 per dollar on Monday.