Naira rises to N1,490/$ in parallel market
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By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,490 per dollar in the parallel market from N1,495 per dollar on Tuesday. Likewise, the Naira appreciated to N1,469 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 N1,469 per dollar from N1,472 per dollar on Tuesday, indicating N3 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N21 per dollar from N23 per dollar on Tuesday.
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