Naira Appreciates To ₦‎1,530/$ In Parallel Market

The Naira today appreciated to N1,530 per dollar in the parallel market from N1,540 per dollar on Thursday.

But the Naira depreciated to N1,502.5 per dollar in the Nigerian Foreign Exchange Market (NFEM)

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,502.5 per dollar from N1,496 per dollar on Thursday indicating N6.5 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N27.5 per dollar from N44 per dollar Thursday.