Naira Rises To N1,565/$ In Parallel Market

The Naira strengthened to ₦1,565 per dollar in the parallel market on Tuesday, up from ₦1,570 per dollar the previous day.

But the Naira depreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM)

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,537 per dollar from N1,528 per dollar on Monday, indicating N9 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N37 per dollar from N42 per dollar on Monday.