Naira drops to N1,495 per dollar in parallel market
In the parallel market, the value of the Naira dropped from N1,490 to N1,495 per dollar on Monday to N1,495 today.
Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira fell to N1,467.01 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the naira depreciated by N7.01 as the exchange rate increased from N1,460 to N1,467.01 per dollar on Monday.
As a result, the difference between the NFEM rate and the parallel market grew from N23 to N27.99 per dollar on Monday.
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