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Naira Appreciates Against US Dollar In Parallel Market

On Friday, the naira strengthened to N1,440 per dollar, compared to Thursday’s rate of N1,450 per dollar. Similarly, in the Nigerian Foreign Exchange Market (NAFEM), the naira appreciated to N1,435.53 per dollar, reflecting a N26.37 increase according to FMDQ data.

This resulted in a reduced gap between official and parallel market exchange rates, narrowing to N4.47 per dollar from N11.9 per dollar on Thursday.

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