NFEM experienced a N1,600 per dollar depreciation of the Naira today that exceeded the three-month N1,500 per dollar limit.
The Central Bank of Nigeria published data revealed N1,600 as the new naira exchange rate against the dollar instead of N1,569 on Thursday which represents a N31 naira dollar decrease.
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The naira lost value in parallel markets because it dropped to N1,565 per dollar while remaining at N1,555 per dollar on Thursday.
The NFEM parallel market spread reached N35 per dollar while the NFEM rate decreased from N1,555 to N1,565 per dollar during that market day.
