Naira down to N1,420/$ in parallel market
By Elizabeth Adegbesan The Naira yesterday depreciated to N1,420 per dollar in the parallel market from N1,408 per dollar on Monday.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,362 per dollar from N1,365 per dollar on Monday, indicating N3 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N58 per dollar from N43 per dollar on Monday.
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