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Naira Gains At Parallel Market To N1,165/$

The Naira strengthened to N1,165 against the dollar in the parallel market yesterday, up from N1,167 on Wednesday.

However, it weakened to N832.32 per dollar in the Nigerian Foreign Exchange Market (NAFEM). According to FMDQ data, the indicative NAFEM exchange rate increased to N832.32 from N831.47, marking an 85 kobo decline for the Naira.

Consequently, the disparity between the official and parallel market rates reduced to N332.68 per dollar yesterday, down from N335.53 on Wednesday.

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