Naira Rises To N1,730/$ In Parallel Market

The Naira appreciated in the parallel market yesterday, strengthening to N1,730 per dollar from N1,735 per dollar on Monday.

Similarly, the Naira appreciated to N1,678.93 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,678.93 per dollar from N1,690.37 per dollar on Monday, indicating N11.44 appreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rate widened to N51.07 per dollar from N44.63 per dollar on Monday.