Naira falls to N1250/$ in parallel market

Naira exchanged for N1250 to a dollar in the parallel market today, December 15.

This represented a N20 increase from the exchange rate recorded on Thursday, December 14. The Naira also 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.

The recent development indicated that the official and parallel market exchange rates have widened to N360.14 per dollar, from N328.59 recorded on Thursday.