Naira falls to N1,495/$ in Unofficial Market

The Naira on Wednesday, depreciated in the unofficial market to N1,495 per dollar from N1,470 per dollar on Tuesday, May 22.

According to Data from FMDQ the indicative exchange rate for NAFEM fell to N1,462.59 per dollar from N1,465.68 per dollar on Tuesday, indicating N3.09 appreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rates widened to N33.59 per dollar from N4.32 per dollar on Tuesday.

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