JUST IN: Naira Appreciates To N1449/$ In Parallel Market

JUST IN: Naira Appreciates To N1449/$ In Parallel Market

The Naira yesterday appreciated to N1,449 per dollar in the parallel market from N1,457 per dollar on Tuesday.

Similarly, the naira appreciated to N1,440 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 N1,440 per dollar from N1,441.75 per dollar on Tuesday, indicating N1.75 appreciation for the naira.

As a result, the margin between the parallel market and NFEM rate narrowed to N9 per dollar from N15.25 per dollar on Tuesday.