By Elizabeth Adegbesan
The naira yesterday depreciated to N1,610 per dollar in the parallel market from N1,600 per dollar on Tuesday.
Likewise, the Naira reversed its upward trend, depreciating to N1,545 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,545 per dollar from N1,540 per dollar on Tuesday, indicating N5 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N70 per dollar from N60 per dollar the previous day.
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