Naira rises to N1,465/$ in parallel market

By Elizabeth Adegbesan

The Naira today appreciated to N1,465 per dollar in the parallel market from N1,470 per dollar last weekend.
Similarly, the naira strengthened in the Nigerian Foreign Exchange Market, NFEM, appreciating to N1,384.5 per dollar.

Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,384.5 per dollar from N1,391 per dollar last weekend, reflecting N6.5 appreciation for the naira.

Consequently, the margin between the parallel and official markets widened to N80.5 per dollar from N79 per dollar on Thursday.

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