Today, the Naira fell to N1,570 per dollar on the parallel market, down from N1,560 per dollar on Tuesday. However, the Naira rose to N1,513 per dollar on the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria, CBN, reported that the indicative exchange rate for the naira declined to N1,513 per dollar from N1,513.1 per dollar on Tuesday, representing a 10 kobo appreciation for the currency.
As a result, the gap between the parallel market and the NFEM rate grew to N57 per dollar from N46.9 per dollar on Tuesday.
