Yesterday, the naira fell to N1,565 per dollar in the parallel market, down from N1,510 on Tuesday.
Similarly, the naira fell to N1,503.38 per dollar on the Nigerian Foreign Exchange Market (NAFEM) Tuesday.
According to FMDQ data, the indicative exchange rate for NAFEM declined to N1,503.38 per dollar from N1,499.07 per dollar on Tuesday, representing a naira devaluation of N4.31.As a result, the difference between the official and parallel market exchange rates increased to N61.65 per dollar yesterday from N10.93 per dollar on Tuesday.
