Naira depreciates to N1,407/$ in parallel market
By Elizabeth Adegbesan The Naira yesterday depreciated to N1,407 per dollar in the parallel market from N1,400 per dollar last week Friday.
Consequently, the margin between the parallel and official markets widened to N43 per dollar from N39 per dollar last week Friday.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,364 per dollar from N1,361 per dollar last weekend, indicating N3 depreciation for the naira.
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