Naira falls to N1,565 per US dollar in parallel market
The value of the naira dropped on the parallel market yesterday, from Tuesday's N1,510 per dollar to N1,565 per dollar.
In a similar vein, the value of the naira dropped on the Nigerian Foreign Exchange Market (NAFEM) Tuesday, to N1,503.38 per dollar.
The indicative exchange rate for NAFEM dropped to N1,503.38 per dollar from N1,499.07 per dollar on Tuesday, according to data from FMDQ, suggesting an N4.31 devaluation of the naira.
As a result, yesterday's difference in the official and parallel market currency rates between N61.65 and N10.93 per dollar was larger than it was on Tuesday.
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