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Again, Naira Appreciates To N1,565/$ In Parallel Market 

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4 months ago

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Again, Naira Appreciates To N1,565/$ In Parallel Market 

 

 

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Yesterday, the Naira appreciated to N1,565 per dollar in the parallel market from N1,570 per dollar on Wednesday.

 

But the Naira depreciated to N1,515.06 per dollar in the Nigerian Foreign Exchange Market (NFEM).

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According to the Data from FMDQ Exchange, it indicates that the indicative exchange rate for the naira rose to N1,515.06 per dollar from N1,511.63 per dollar on Wednesday, sighting a N3.43 decrease.

 

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As a result, the difference between the parallel market and NFEM rate narrowed, with the margin decreasing to N49.94 per dollar from N58.37 per dollar on Wednesday.

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