Naira rises to N1,382/$ in parallel market
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THE Naira yesterday appreciated to N1,382 per dollar in the parallel market from N1,387 per dollar on Monday.
Similarly, the naira appreciated to N1,362 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,362 per dollar from N1,367.5 per dollar on Monday, reflecting N5.5 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N20 per dollar from N19.5 per dollar on Monday. The turnover in the interbank foreign exchange market increased by 19.4 percent to $71.6 million from $59.93 million on Monday.
