The Naira has depreciated by N1,629 per dollar in the official market
Written by Noble People Crew on 8 April 2025
The Naira depreciated to N1,629 per dollar in the Nigerian Foreign Exchange Market (NFEM) yesterday. According to data published by the Central Bank of Nigeria (CBN), the indicative exchange rate for the Naira increased from N1,600 per dollar last Friday to N1,629 this week, reflecting a depreciation of N29.
Similarly, in the parallel market, the Naira fell to N1,570 per dollar, down from N1,565 last weekend. As a result, the gap between the parallel market rate and the NFEM rate widened from N35 to N59 per dollar.
