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Naira Appreciates To N1,475/$ In Parallel Market

Similarly, the Naira rose to N1,468.99 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).

By Johnson Atoukudu

The Naira appreciated in the parallel market yesterday to N1,475 per dollar, up from N1,480 per dollar last weekend.

Similarly, the Naira rose to N1,468.99 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).

Data from FMDQ indicated that the indicative exchange rate for NAFEM decreased to N1,468.99 per dollar from N1,497.33 per dollar last Friday, marking a N28.34 gain for the naira.

As a result, the margin between the parallel market and NAFEM rates narrowed to N6.01 per dollar from N10.33 per dollar last weekend.

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