Naira rises to N1,560/$ in parallel market
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By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,560 per dollar in the parallel market from N1,565 per dollar last week Friday. But the naira depreciated to N1,538.4 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 N1,538.4 per dollar from N1,534.9 per dollar last weekend, indicating N3.5 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N21.6 per dollar from N30.1 per dollar last weekend.
The post Naira rises to N1,560/$ in parallel market appeared first on Vanguard News.
