Naira appreciates  to N1,565/$ in parallel market

Naira

By Elizabeth Adegbesan

The Naira today appreciated to N1,565  per dollar in the parallel market from N1,570 per dollar  on Thursday.

Similarly, the naira appreciated to N1,534.9 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 N1,534.9 per dollar from N1,535  per dollar  on Thursday,  indicating one kobo appreciation for the naira.

Consequently, the margin between the parallel market and the NFEM rate narrowed to N30.1 per dollar from N35 per dollar on Thursday.

This week, the naira lost N1.1 and  N10 in the official and  parallel markets, respectively, against the dollar.

Vanguard News

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