Naira rises to N1,385/$ in parallel market

By Elizabeth Adegbesan

The Naira yesterday appreciated to N1,385 per dollar in the parallel market from N1,393 per dollar on Monday.
Similarly, the naira appreciated to N1,337 per dollar in the Nigerian Foreign Exchange Market, NFEM.

Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,337 per dollar from N1,344 per dollar on Monday, reflecting N7 appreciation for the naira.

Consequently, the margin between the parallel and official markets narrowed to N48 per dollar from N49 per dollar on Monday.

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