Naira depreciates to N1,665/$ in parallel market

CBN – The Naira yesterday depreciated to N1,665 per dollar in the parallel market from N1,660 per dollar last weekend.

But the Naira appreciated to N1,534.56 per dollar in the official foreign exchange market.

https://youtu.be/N-LGDjN2qOg?si=nf_xX51KR3u0ANlt

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) fell to N1534.56 per dollar from N1,535 per dollar last week Friday, indicating 44 kobo appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N130.44 per dollar from N125 per dollar last Weekend.

By Damilola Adeleke| January 7, 2025

Damilola Adeleke

Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.