Naira Appreciates To N1,525/$ In Parallel Market

The Naira strengthened in the parallel market yesterday, rising to N1,525 per dollar from N1,530 per dollar on Monday.

Similarly, the Naira appreciated to N1,506.5 per dollar in the Nigerian Foreign Exchange Market (NFEM)

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate of the naira fell to N1,506.5 per dollar from N1,513 per dollar on Monday , indicating N6.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N18.5 per dollar from N17 per dollar on Monday.