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HomeNationalNaira falls to N1250/$ in parallel market

Naira falls to N1250/$ in parallel market

The naira depreciated yesterday to N1,250 per dollar in the parallel market from N1,230 per dollar on Thursday.

Similarly, the naira appreciated to N889.86 per dollar in the official Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N889.86 per dollar from N901.41 per dollar on Thursday, indicating an N11.55 appreciation for the naira.

As a result, the gap between the official and parallel market exchange rates widened to N360.14 per dollar yesterday from N328.59 per dollar on Thursday.

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