The Naira dropped to N1,505 per dollar on the parallel market Friday, down from N1,495 on Thursday.
Similarly, the Naira declined to N1,500 per dollar on the Nigerian Foreign Exchange Market (NFEM).
According to data issued by the Central Bank of Nigeria (CBN), the naira’s indicative exchange rate increased to N1,500 per dollar from N1,496 per dollar on Thursday, suggesting an N4 depreciation.
As a result, the difference between the parallel market and the NFEM rate increased to N5 per dollar from N1 the previous day.
