By Elizabeth Adegbesan
The naira on Friday depreciated to N1,538 per dollar in the parallel market, weaker than N1,535/$ recorded on Thursday.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira slipped to N1,503.5 per dollar from N1,503/$ on Thursday, reflecting a 50 kobo depreciation.
Data published by the Central Bank of Nigeria (CBN) confirmed the official exchange movement. Consequently, the margin between the parallel market and NFEM rate stood at N32/$, unchanged from Thursday.
For the week, the naira appreciated by N9.5 against the dollar in the official market. However, in the parallel market, the local currency lost N8, after opening the week at N1,530/$.
The post Naira depreciates to N1,538/$ in parallel market appeared first on Vanguard News.
