Exchange rate weakens at N1,175/$ in parallel market, NAFEM strengthens N782.68/$

This showed a 6.8 percent depreciation when compared to N1,100 per dollar rate recorded the previous day.

The naira has continued to weaken against the green back across all market segment since the Central Bank of Nigeria announced the lifting of the ban on 43 items previously restricted from accessing foreign exchange from the investor’s and exporters’ window now NAFEM. Similarly, the currency lost N145 in the parallel market where it stood at N1,030 per dollar last week Thursday.

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