Naira drops to N1,620 per dollar at parallel market
In the parallel market, the value of the Naira dropped from N1,615 to N1,620 per dollar on Monday to N1,620 yesterday.
Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira fell to N1,590 per dollar.
The naira depreciated by N7, according to data released by the Central Bank of Nigeria (CBN), which revealed that the exchange rate increased to N1,590 per dollar from N1,583 per dollar on Monday.
As a result, the difference between the NFEM rate and the parallel market dropped from N32 to N30 per dollar on Monday.
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