Market News
Naira appreciates to N1,477/$ in parallel market - VANGUARD
By Elizabeth Adegbesan
The Naira today appreciated to N1,477 per dollar in the parallel market from N1,480 per dollar on Thursday.
But the naira depreciated to N1,455.5 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 rose slightly to N1,455.5 per dollar from N1,455.25 per dollar the previous day, indicating 25 kobo. depreciation for the naira.
As a result, the margin between the parallel market and NFEM rate narrowed to N21.5 per dollar from N24.75 per dollar on Thursday.
