BY NGOZI ONYEAKUSI


The Naira on Thursday depreciated to N1,660 per dollar in the parallel market from N1,655 per dollar.

Tbough it appreciated to N1,535 per dollar in the official foreign exchange market

According the Central Bank of Nigeria, CBN, the exchange rate for Nigerian Foreign Exchange Market (NFEM) fell to N1535 per dollar from N1,538.5 per dollar on Thursday, indicating N3.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N125 per dollar from N116.5 per dollar on Thursday.