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Naira falls to N1,350/$ in parallel market


World Bank lists naira among worst-performing African currencies

The naira yesterday fell to N1,350 per dollar in the parallel market from N1,295 per dollar on Tuesday.
However, the naira depreciated to N931.23 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N931.23 per dollar from N878.57 per dollar on Tuesday, indicating N52.66 depreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates widened to N418.77 per dollar yesterday from N416.43 on Tuesday.

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