Naira Plunges: What N1,615/$ Means for Your Wallet

Updated Wednesday 30 April 2025 17:0

Yesterday, the naira fell to N1,615 per dollar in the parallel market, down from N1,610 on Monday.
Similarly, the Naira fell to N1,602 per dollar on the Nigerian Foreign Exchange Market (NFEM).

According to data issued by the Central Bank of Nigeria (CBN), the naira's indicative exchange rate increased to N1,602 per dollar from N1,596 per dollar on Monday, suggesting an N6 depreciation.

As a result, the difference between the parallel market and the NFEM rate has reduced to N13 per dollar, down from N14 on Monday.

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