Naira appreciates to N1,470/$ in parallel market
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By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,470 per dollar in the parallel market from N1,475 per dollar last weekend.
However, the naira depreciated to N1,447 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 N1,447 per dollar from N1,444 per dollar last week Friday, indicating N3 depreciation for the naira.
As a result, the margin between the parallel market and NFEM rate narrowed to N23 per dollar from N31 per dollar last week Friday.
The post Naira appreciates to N1,470/$ in parallel market appeared first on Vanguard News.
