Naira depreciates to N1,415/$ in parallel market
By Elizabeth Adegbesan
nThe Naira today depreciated to N1,415 per dollar in the parallel market from N1,410 per dollar on Thursday.
nBut the naira appreciated to N1,368 per dollar in the Nigerian Foreign Exchange Market, NFEM .
nData from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1368 per dollar from N1368.5 per dollar on Thursday, indicating a 50kobo appreciation for the naira.
nConsequently, the margin between the parallel and official markets widened to N47 per dollar from N41.5 per dollar on Thursday.
nThe interbank turnover at NFEM rose by 1.01 percent to N58.99 million yesterday from N58.4 million on Thursday.
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