Naira depreciates to N1,572/$ in parallel market

July 19, 2024 Gistcore Gists and Latest news 0

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The Naira yesterday depreciated to N1,572 per dollar in the parallel market from N1,570 per dollar on Wednesday.

Similarly, the Naira appreciated to N1,566.82 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,566.82 per dollar from N1,581.65 per dollar on Wednesday, indicating N14.83 appreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N5.18 from N11.65 per dollar on Wednesday.


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