Naira slips to N1,415/$ in parallel market, NFEM rate gains

By —

The naira depreciated to N1,415 per dollar in the parallel market on Friday, from N1,410 per dollar on Thursday. In the official Nigerian Foreign Exchange Market, the naira appreciated slightly.

Official rate improves marginally

Data from the Central Bank of Nigeria showed the indicative exchange rate for the naira fell to N1,368 per dollar, from N1,368.5 per dollar on Thursday. That represents a 50 kobo appreciation for the naira in the NFEM.

Parallel-official gap widens

As a result, the margin between the parallel and official markets widened to N47 per dollar, up from N41.5 per dollar on Thursday. Interbank turnover at NFEM rose by 1.01 percent to N58.99 million, from N58.4 million the previous day.

The wider spread between the parallel and official rates suggests pressure is still building in the unofficial market, which many businesses and individuals rely on for dollar access. That could feed into the pricing of goods and services that depend on parallel market forex.

Forex News

Depot petrol prices jump as crude oil climbs toward $90, experts warn of more hikes
ABOKI FOREX
Nigerians burn 15.32 billion GB of data worth N6.6 trillion in one year
ABOKI FOREX
DStv adds 4 SuperSport channels, cuts 9 others in 2026 lineup shake-up
ABOKI FOREX
Nigerian bank raises alarm over rising account attacks, reveals what customers must do
ABOKI FOREX
FG targets November 2026 to complete remaining 164km Abuja-Kaduna-Kano highway
ABOKI FOREX
Over 175,000 US visas revoked since Trump returned to office
ABOKI FOREX
Lagos, FCT, Rivers hold 43% of states' N4.52 trillion domestic debt, DMO says
ABOKI FOREX
Zuckerberg rejects AI doom narrative, says invention will create more jobs
ABOKI FOREX
Nigeria's trillion-dollar dream is being choked by poor returns, not low investment
ABOKI FOREX
NERC takes over Kaduna DisCo, dissolves board over N456.5 billion debt
ABOKI FOREX