Naira depreciates to N1, 492 per dollar in parallel market
The Naira dropped from N1,485 per dollar on Tuesday to N1,492 per dollar yesterday on the parallel market.
On the Nigerian Foreign Exchange Market, or NFEM, the value of the naira fell to N1,458.02 per dollar.
The exchange rate for the naira increased to N1,458.02 per dollar from N1,457 per dollar on Tuesday, signifying a N1.02 devaluation, according to data from the Central Bank of Nigeria, or CBN.
As a result, the difference between the official and alternative markets increased from N28 to N31.98 per dollar on Tuesday.
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