Naira Rises To N1,270 In Parallel Market

Yesterday, the naira saw an appreciation to N1,270 per dollar in the parallel market, compared to N1,290 per dollar recorded last week Thursday.

Similarly, the naira appreciated in the NAFEM to N1,278.58 per dollar.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,278.58 per dollar from N1,309.39 per dollar last week Thursday, indicating N30.81 appreciation for the naira.

Consequently, the margin between the parallel market rate and NAFEM narrowed to N8.58 per dollar from N19.39 per dollar on last week Thursday.