Naira Declines to 1,400 Naira per Dollar in Parallel Market

By Elizabeth Adegbesan

Yesterday, the Naira fell to N1,400 per dollar in the parallel market, down from N1,390 per dollar the previous weekend.

In contrast, the Naira strengthened to N1,356 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Central Bank of Nigeria data showed that the indicative exchange rate for the market dropped to N1,356 per dollar from N1,365.4 per dollar last weekend, reflecting a N9.4 appreciation for the Naira.

The post Naira down to N1,400/$ in parallel market appeared first on Vanguard News.