In the parallel market, the naira fell to N1,585 per dollar Wednesday, down from N1,565 on Tuesday. Similarly, the Naira fell to N1,546 per dollar on the Nigerian Foreign Exchange Market.
According to data issued by the Central Bank of Nigeria, the naira’s indicative exchange rate increased to N1,546 per dollar from N1,537 per dollar on Tuesday, suggesting a N9 depreciation.
As a result, the difference between the parallel market and NFEM rates increased to N39 per dollar from N37 per dollar on Tuesday.
