•US Dollar and Naira notes
The Naira continued its downward trend in the parallel market, depreciating further to N1,650 per dollar yesterday, a slight drop from Monday’s rate of N1,648 per dollar.
In contrast, the official foreign exchange market provided a rare moment of relief, as the Naira appreciated marginally to N1,537 per dollar, gaining N1 from the previous day’s rate of N1,538 per dollar, reports Nigerian Tribune.
Analysts project Naira will berth at N1,550/US$, GDP growth of 3.6% in Q1 2025
Again, Naira depreciates to N1,670/$ in parallel market
Data from the Central Bank of Nigeria (CBN) highlighted the growing disparity between the parallel market and the official Nigerian Foreign Exchange Market (NFEM).
The margin widened to N113 per dollar yesterday, compared to N110 per dollar on Monday, underscoring ongoing challenges in exchange rate management.
