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Naira depreciates further, hits N1,260/$ in black market
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N869.13 per dollar from N895.23 per dollar on Thursday, indicating N26.1 appreciation for the naira.
The naira yesterday depreciated to N1,260 per dollar in the parallel market from N1,250 per dollar on Thursday.
However, the naira appreciated to N869.13 per dollar in the Nigerian Foreign Exchange Market (NAFEM), thus widening the gap between the official and parallel market exchange rates to N380.87 per dollar yesterday from N344.77 per dollar on Thursday.
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Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N869.13 per dollar from N895.23 per dollar on Thursday, indicating N26.1 appreciation for the naira.
