Market News
Naira appreciates to N1,600/$ in parallel market - VANGUARD
The naira yesterday appreciated to N1,600 per dollar in the parallel market from N1,605 per dollar last weekend.
But the Naira depreciated to N1,550 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 rose to N1,550 per dollar from N1,547 per dollar last weekend, indicating N3 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N50 per dollar from N58 per dollar last week Friday.
