Naira Appreciates Against Dollar Today, See New Exchange Rate

Naira Appreciates Against Dollar Today, See New Exchange Rate

The Naira appreciated on Friday, trading at ₦1,480 per dollar in the parallel market, up from ₦1,487 on Thursday.

Similarly, in the Nigerian Foreign Exchange Market (NFEM), the currency strengthened to ₦1,458 per dollar.

According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved from ₦1,464 to ₦1,458 per dollar, reflecting a ₦6 gain for the Naira.

As a result, the gap between the parallel market and NFEM rates narrowed to ₦22 per dollar, compared to ₦23 the previous day.

Overall, the Naira appreciated by ₦6 in the official market during the week, while remaining largely stable in the parallel market.