Naira tumbles to all-time low, trades at N1455/$ in parallel market

The naira on Monday depreciated to N1,455 per dollar in the parallel market from N1,440 per dollar last week Friday.

However, the naira fell to N1,419.86 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,419.86 per dollar from N1,435.53 per dollar last weekend, indicating N15.67 appreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates widened to N35.14 per dollar yesterday from N4.47 per dollar last week.

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Godwin Onoh

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