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    Wednesday, February 14, 2024

    Naira Depreciates to N1,510/$ in Parallel Market

    The naira yesterday depreciated to N1,510 per dollar in the parallel market from N1,485 per dollar on Monday.

    However, the naira yesterday appreciated to N1499.07 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

    Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,499.07 per dollar from N1,534.39 per dollar on Monday, indicating N35.32 appreciation for the naira.

    Consequently, the gap between the official and parallel market exchange rates narrowed to N10.93 per dollar yesterday from N49.39 per dollar on Monday.


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