By Elizabeth Adegbesan

The naira yesterday depreciated to N1, 625 per dollar in the parallel market from N1,620 per dollar on Thursday.

However, the Naira appreciated to N1,579 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,579 per dollar from N1,586 per dollar on Thursday, indicating N7 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N46 per dollar from N34 per dollar on Thursday.

Vanguard News