The Naira yesterday experienced a decline, reaching N1,455 per dollar in the parallel market compared to N1,440 per dollar recorded last Friday.
On the Nigerian Foreign Exchange Market, the naira dropped to N1,419.86 per dollar (NAFEM).
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The indicative exchange rate for NAFEM dropped from N1,435.53 per dollar last weekend to N1,419.86 per dollar this past weekend, according to data from FMDQ, showing a N15.67 appreciation for the naira.
As a result, the difference in the official and black market exchange rates grew, from N4.47 per dollar last week to N35.14 per dollar yesterday.