Market News
Naira appreciates to N1,530/$ in parallel market - VANGUARD
By Elizabeth Adegbesan
The Naira has appreciated in the parallel market to N1,530 per dollar from N1,535 per dollar on Thursday.
Similarly, the Naira appreciated to N1,509.67 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,509.67 per dollar from N1,520.24 per dollar on Thursday, indicating N10.57 appreciation for the naira.
The volume of dollars traded (turnover) in the market fell by 32.6 percent to $116.88 million from $173.51 million traded on Thursday.
Consequently, the margin between the parallel market and NAFEM rates widened to N20.33 per dollar from N14.76 per dollar on Thursday.
