Naira Appreciates To N1,615/$ In Parallel Market

The naira appreciated to N1,615 per dollar in the parallel market yesterday, up from N1,620 per dollar on Tuesday.

Similarly, the Naira appreciated to N1,583 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 N1,583 per dollar from N1,588.5 per dollar on Tuesday, indicating N5.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N32 per dollar from N31.5 per dollar on Tuesday.