Naira falls to N1,260/$ in parallel market

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The naira yesterday fell to N1,260 per dollar in the parallel market from N1,240 per dollar
Similarly, the naira depreciated to N890.54 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N890.54 per dollar from N874.79 per dollar on Thursday, indicating N15.75 depreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates widened to N369.46 per dollar yesterday from N365.21 per dollar on Thursday.