Naira depreciates to N1,600/$ in official market - NEWS FRONTIER DAILY

    • Breaking

    Friday, April 4, 2025

    Home Economy Naira depreciates to N1,600/$ in official market

    Naira depreciates to N1,600/$ in official market






    The Naira  today depreciated to  N1,600 per dollar in the Nigerian Foreign Exchange Market (NFEM) after three months of being on the  N1,500 per dollar threshold.


    Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,600 per dollar from N1,569 per dollar on Thursday, indicating N31 depreciation for the naira. 


    Likewise, the naira depreciated to N1, 565 per dollar  in the parallel market  from N1,555 per dollar on Thursday. 


    Consequently, the margin between the parallel market and NFEM rate widened to N35 per dollar from N14 per dollar on Thursday.

    Tags
    Share This
    Author Image

    About NEWS FRONTIER DAILY

    By at
    Labels:

    No comments:

    Post a Comment

    Subscribe to: Post Comments (Atom)

    Author Details

    NEWSFRONTIER is a product of a dedicated and seasoned Journalist who has cut his teeth in the Media industry. The Publisher was once a teacher, and a public commentator. He was well grounded in community journalism. He had edited many Newspapers both local and international. The focus of NEWSFRONTIER is to inform, educate, entertain and above all be source of credible news source for the opinion moulders and the general public. We are assuring all our readers/audience that we are going to be objective, concise, and be guided by our conscience by looking at every information and data from all angles. Journalism is evolving daily, we will move with time, but not be swayed with tide.