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Naira down to N1,400/$ in parallel market

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Naira down to N1,400/$ in parallel market

The Naira depreciated to N1,400 per dollar in the parallel market as at Tuesday morning, June 16, down from N1,390 per dollar recorded last weekend.

 

However, the local currency saw gains in the official window, appreciating to N1,356 per dollar in the Nigerian Foreign Exchange Market (NFEM).

 

Data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the official market fell to N1,356 per dollar from N1,365.4 per dollar last weekend, indicating a N9.4 appreciation for the naira.

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