A man counts bank notes at the market in Jibia on February 18, 2024. (Photo by Kola Sulaimon / AFP)
The naira Tuesday depreciated to N1,379 per dollar in the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN).
The currency also slipped to N1,405 per dollar in the parallel market from N1,400 per dollar on Monday.
CBN data showed that the indicative exchange rate for the market rose slightly to N1,379 per dollar from N1,371 per dollar on Monday, indicating N8 depreciation for the naira.
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Consequently, the margin between the parallel and official markets narrowed to N26 per dollar from N29 per dollar on Monday.
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