Naira Rises To N1,620/$ In Parallel Market

The naira weakened further on Tuesday, falling to N1,620 per dollar in the parallel market, down from N1,610 per dollar on Monday.

But the Naira appreciated to N1,579 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 N1,579 per dollar from N1,580 per dollar on Monday, indicating N1 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N41 per dollar from N30 per dollar the previous day.