Market News
Naira appreciates to N1,546/$ in parallel market - VANGUARD
By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,546 per dollar in the parallel market from N1,550 per dollar on Tuesday.
Similarly, the Naira appreciated to N1,537.2 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 N1,537.2 per dollar from N1,538 per dollar on Tuesday, indicating 80 kobo appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N8.8 per dollar from N13 per dollar on Tuesday.
