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Naira Down To ₦1,585/$ In Parallel Market

Similarly, the Naira depreciated to ₦1,546 per dollar in the Nigerian Foreign Exchange Market.

By Channels Television
Updated March 13, 2025
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A man counts bank notes at the market in Jibia on February 18, 2024. (Photo by Kola Sulaimon / AFP)

 

The Naira, Wednesday depreciated to ₦1,585 per dollar in the parallel market from ₦1,565 per dollar on Tuesday.

Similarly, the Naira depreciated to ₦1,546 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to ₦1,546 per dollar from ₦1,537 per dollar on Tuesday, indicating ₦9 depreciation for the naira.

 

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Consequently, the margin between the parallel market and NFEM rate widened to ₦39 per dollar from ₦37 per dollar on Tuesday.

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