The Naira fell to N1,655 per dollar in the parallel market yesterday, down from N1,650 on Tuesday.
Again, it Naira also fell to N1,545 per dollar in the official foreign exchange market.
According to data issued by the Central Bank of Nigeria (CBN), the exchange rate for the Nigerian Foreign Exchange Market (NFEM) increased to N1,545 per dollar from N1,538 per dollar on Tuesday, suggesting a N7 devaluation in the naira.
As a result, the difference between the parallel market and the NFEM rate has reduced to N110 per dollar, down from N112 on Tuesday.
