Market News
Naira appreciates to N1,470/$ in parallel market
By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,470 per dollar in the parallel market from N1,478 per dollar last week Wednesday.
Likewise, the naira appreciated to N1,446.4 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,446.4 per dollar from N1,451 per dollar last week Wednesday, indicating N4.6 appreciation for the naira.
Consequently, the margin between the parallel and official markets narrowed to N23.6 per dollar from N27 per dollar last week Wednesday.
