Naira appreciates to N1,470 /$ in parallel market
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The Naira yesterday appreciated to N1,470 per dollar in the parallel market from N1,476 per dollar last weekend.
However, the naira depreciated to N1,450 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 rose to N1,450 per dollar from N1,446.9 per dollar last weekend , indicating N3.1 depreciation for the naira.
As a result, the margin between the parallel market and NFEM rate narrowed to N20 per dollar from N29.1 per dollar last week Friday.
called from vanguard.
