🗣 Naira Falls to N1,670/$ in Parallel Market Amid Continued Depreciation
The Naira depreciated to N1,670 per dollar in the parallel market, down from N1,665 on Tuesday. In the official foreign exchange market, the Naira also weakened to N1,545 per dollar, reflecting a N5 drop compared to the previous day’s rate of N1,540.
Data from the Central Bank of Nigeria (CBN) and FMDQ confirmed the continued decline, with the official rate reaching N1,544.2 per dollar. This depreciation widened the gap between the parallel and official markets to N125 per dollar from N120.95.
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The Naira depreciated to N1,670 per dollar in the parallel market, down from N1,665 on Tuesday. In the official foreign exchange market, the Naira also weakened to N1,545 per dollar, reflecting a N5 drop compared to the previous day’s rate of N1,540.
Data from the Central Bank of Nigeria (CBN) and FMDQ confirmed the continued decline, with the official rate reaching N1,544.2 per dollar. This depreciation widened the gap between the parallel and official markets to N125 per dollar from N120.95.
Nairaland Pulse News | Subscribe