By Elizabeth Adegbesan

The Naira yesterday depreciated to N1,475 per dollar in the parallel market from N1,463 per dollar last weekend.

However, the naira was stable at N1,454 per dollar in the Nigerian Foreign Exchange Market (NFEM) according to data published by the Central Bank of Nigeria, CBN.

As a result, the margin between the parallel market and NFEM rate widened to N21 per dollar from N9 per dollar last week Friday.