Nigeria’s official currency on Monday depreciated to ₦1,510/$1 in the parallel market from ₦1,505/$1 last weekend.
However, the Naira appreciated to ₦1,499/$1 from ₦1,500/$1 in the Nigerian Foreign Exchange Market (NFEM).
According to data published by the Central Bank of Nigeria (CBN), it showed that the indicative exchange rate from last week Friday showed a ₦1 appreciation for the Naira.
Consequently, the margin between the parallel market and NFEM rate widened to ₦11/$1 from N5/$1 last weekend.
