Naira depreciates to N1,410/$ in parallel market

2026-03-26 - 03:03

By Elizabeth Adegbesan The Naira yesterday depreciated to N1,410 per dollar in the parallel market, from N1,405 per dollar on Tuesday. Likewise, the naira depreciated to N1,391 per dollar in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,391 per dollar from N1,383.5 per dollar on Tuesday, reflecting N7.5 depreciation for the naira. Consequently, the margin between the parallel and official markets narrowed to N19 per dollar from N21.5 per dollar on Tuesday.