By Elizabeth Adegbesan
THE Naira yesterday depreciated to N1,505 per dollar in the parallel market from N1,500 per dollar yesterday.
However, the Naira appreciated in the Nigerian Foreign Exchange Market (NFEM) to N1,478 per dollar.
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,478 per dollar from N1,480.15 per dollar on Monday, indicating N6.85 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N18 per dollar from N19.85 per dollar on Monday.
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