Naira now N1,446/$ in parallel market

By Elizabeth Adegbe

The Naira yesterday appreciated to N1,446 per dollar in the parallel market from N1,450 per dollar on Wednesday. However, the naira recorded its first depreciation this week in the Nigerian Foreign Exchange Market, NFEM, to N1,368 per dollar.

Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,368 per dollar from N1,359 per dollar on Wednesday, reflecting N9 depreciation for the naira.

Consequently, the margin between the parallel and official markets narrowed to N78 per dollar from N91 per dollar on Wednesday.

The post Naira now N1,446/$ in parallel market appeared first on Vanguard News.