Market News
Naira appreciates to N1,460 /$ in parallel market - VANGUARD
By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,460 per dollar in the parallel market from N1,470 per dollar on Monday.
Similarly, the naira appreciated to N1,447 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,447 per dollar from N1,450 per dollar on Monday, indicating N3 appreciation for the naira.
As a result, the margin between the parallel market and NFEM rate narrowed to N13 per dollar from N20 per dollar on Monday.
