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Naira appreciates further, trades at ₦1,385 per dollar in parallel market

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2 days ago

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The naira yesterday strengthened to N1,385 per dollar in the parallel market from N1,390 per dollar on Tuesday.

Also, the naira strengthened to N1,369 per dollar in the Nigerian Foreign Exchange Market, NFEM.

According to data released by the Central Bank of Nigeria, CBN, the indicative exchange rate in the market dropped to N1,369 per dollar from N1,376 per dollar on Tuesday. This shows an appreciation of N7 for the naira.

Thus, the difference between the two markets increased to N16 per dollar from N14 per dollar on Tuesday.

The turnover in the interbank market at NFEM dropped by 66.5 percent to N90.3 million yesterday from N269.9 million on the previous day.

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