By Elizabeth Adegbesan
The Naira yesterday depreciated further to N1,505 per dollar in the parallel market from N1,495 per dollar on Tuesday.
However, the Naira appreciated to N1,427.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,427.5 per dollar from N1,467.01 per dollar on Tuesday, indicating N39.51 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N77.5 per dollar from N27.99 per dollar on Tuesday.
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