Naira appreciates to N1,465/$ in parallel market
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The Naira yesterday appreciated to N1,465 per dollar in the parallel market from N1,474 per dollar last weekend. Similarly, the naira appreciated to N1,452 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,452 per dollar from N1,458 per dollar last week Friday, indicating N6 appreciation for the naira.
As a result, the margin between the parallel market and NFEM rate narrowed to N13 per dollar from N16 per dollar last weekend.
