Brands and Marketing
UPDATED: Naira Appreciates To N1,555/$ In Parallel Market
UPDATED: Naira Appreciates To N1,555/$ In Parallel Market
The Naira strengthened to N1,555 per dollar in the parallel market yesterday, up from N1,570 per dollar last week Friday.
However, the Naira weakened to N1,512 per dollar in the Nigerian Foreign Exchange Market (NFEM).
According to data released by the Central Bank of Nigeria (CBN), the indicative exchange rate for the Naira increased to N1,512 per dollar in NFEM from N1,511 per dollar last weekend, representing a depreciation of N1 for the Naira.
As it stands, the difference between the parallel market and NFEM rate narrowed to N43 per dollar from N59 per dollar last week Friday.
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