By Kemi Adebowale
The naira on Friday depreciated to N1,490 per dollar in the parallel market, down from N1,475/$ recorded on Thursday.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the currency slid to N1,469/$, compared to N1,464.85/$ a day earlier, according to data released by the Central Bank of Nigeria (CBN). This reflects a N4.15 loss for the naira at the official window.
As a result, the gap between the parallel and official market rates widened to N25.15/$, up from N10.15/$ on Thursday.
Despite this dip, the naira had earlier recorded gains within the week, appreciating by N11.15 and N10 in the official and parallel markets respectively.
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