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UPDATED: Naira Appreciates Against USD In Parallel Market
UPDATED: Naira Appreciates Against USD In Parallel Market
The naira appreciated in the parallel market today, strengthening to N1,545 per dollar from N1,550 per dollar recorded last weekend.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira rose to N1,528.65 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the exchange rate improved from N1,532 per dollar last Friday to N1,528.65 per dollar, reflecting a gain of N3.35.
As a result, the gap between the parallel market and the NFEM rate narrowed to N16.35 per dollar, down from N18 per dollar last weekend.
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