Naira down to N1,655/$ in parallel market

January 9, 2025 Gistcore Gists and Latest news 0

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The Naira yesterday depreciated to N1,655 per dollar in the parallel market from N1,650 per dollar on Tuesday.

Likewise, the Naira depreciated to N1,545 per dollar in the official foreign exchange market.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) rose to N1,545 per dollar from N1,538 per dollar on Tuesday, indicating N7 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N110 per dollar from N112 per dollar on Tuesday.


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