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Opinion

Naira continue to depreciates, now N1030/$ in parallel market

The naira yesterday depreciated to N1,030 per dollar in the parallel market from N1,010 per dollar on Wednesday.

However, the naira appreciated in the Investors and Exporters, I&E, window yesterday to N759.2 per dollar.

Data from FMDQ showed that the indicative exchange rate for the I&E window fell to N759.2 per dollar from N776.8 per dollar on Wednesday, indicating N17.16 appreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates widened to N270.8 per dollar yesterday from N233.2 per dollar on Wednesday.

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