Naira depreciates to N1,565 per dollar in parallel market
In the parallel market, the value of the naira dropped from N1,560 to $1 last weekend to N1,565 to $1 yesterday.
Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira fell to N1,529.5 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the naira depreciated by N1 last weekend, as the exchange rate increased to N1,529.5 per dollar from N1,528.5 per dollar the previous weekend.
As a result, the difference between the NFEM rate and the parallel market grew from N31.5 to N35.5 per dollar last week.
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