Naira falls to N1,500/$ in parallel market

The Naira continued its downward trend against the U.S. dollar in the parallel foreign exchange market on Thursday.

A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, confirmed that the Naira depreciated further, trading at N1,500 per dollar, compared to the N1,490 rate recorded on Wednesday.

This represents a N10 decline in value within a day, marking the second instance of depreciation in the black market this week.

Conversely, in the official market, the Naira showed a slight improvement, appreciating by N0.04 to close at N1,499.07 on Thursday, up from N1,499.11 the previous day.