THE Naira yesterday depreciated to N1,474 per dollar in the parallel market from N1,465 per dollar on Monday. Similarly, the naira appreciated to N1,441 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 N1,441 per dollar from N1,452 per dollar on Monday , indicating N11 appreciation for the naira.
As a result, the margin between the parallel market and NFEM rate widened to N33 per dollar from N13 per dollar on Monday.