Naira depreciates, now N1,565 per dollar
It was initially N1,560 per dollar, during the weekend that just ended before Monday.
The Nigerian currency, naira, slide down on Monday depreciating to N1,565 per dollar in the parallel market.
It was initially N1,560 per dollar, during the weekend that just ended before Monday.
Similarly, the Naira depreciated to N1,529.5 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 rose to N1,529.5 per dollar from N1,528.5 per dollar last weekend, indicating N1 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N35.5 per dollar from N31.5 per dollar last week.
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