Brands and Marketing
Again, Naira Appreciates Against Dollar In Parallel Market
Again, Naira Appreciates Against Dollar In Parallel Market
The Naira yesterday strengthened to N1,525 per dollar in the parallel market, up from N1,530 per dollar on Monday.
In the Nigerian Foreign Exchange Market (NFEM), the currency also appreciated to N1,506.5 per dollar.
According to data from the Central Bank of Nigeria (CBN), the official rate improved to N1,506.5 per dollar from N1,513 per dollar on Monday, reflecting a N6.5 gain for the naira.
As a result, the gap between the parallel market and the NFEM widened to N18.5 per dollar, compared to N17 per dollar on Monday.
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