Naira appreciates N1,625/$ in parallel market
The naira on Friday appreciated to N1,625 per dollar in the parallel market from N1,630 per dollar the previous day.
Likewise, the naira appreciated to N1,626 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,626 per dollar from N1,630 per dollar on Thursday, indicating N4 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N4 per dollar from a zero margin on Thursday.
