- The Nigerian Naira has depreciated to N1,670 per dollar in the parallel market.
- The Naira also depreciated to N1,545 per dollar in the official foreign exchange market.
- The depreciation represents a N5 drop from the previous day’s rate.
- The gap between the parallel market and official market rates has widened to N125 per dollar.
The Naira has indeed taken a hit, depreciating to N1,670 per dollar in the parallel market. However, it’s worth noting that the official market rate remains stable at N1,544 per dollar .
In the parallel market, the Naira has maintained its stability against the US Dollar, with no changes in its value at N1,660/$1 . Meanwhile, the cryptocurrency market is experiencing some fluctuations, with profit-taking dominating the scene .
