Naira Appreciates To N1,530/$ In Parallel Market

The Naira appreciated to ₦1,530 per dollar in the parallel market on Tuesday, up from ₦1,540 per dollar recorded on Monday.

Likewise the naira appreciated to N1,532.5 per dollar in the Nigerian Foreign Exchange Market (NFEM) falling below the parallel market by N2.5.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,532.5 per dollar from N1,535.5 per dollar on Monday, indicating N3 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N2.5 per dollar from 50 kobo per dollar the previous day.