Naira appreciates to N1,475/$ in parallel market

The parallel market saw the rise to N1,475 per dollar yesterday, up from N1,480 per dollar the previous weekend.

Similarly, it rose to N1,468.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, or NAFEM.

According to FMDQ data, the indicative exchange rate for NAFEM declined to N1,468.99 per dollar from N1,497.33 per dollar last week Friday, representing a N28.34 gain in the naira.

Naira

As a result, the gap between parallel market and NAFEM pricing shrank to N6.01 per dollar, down from N10.33 per dollar the previous weekend.

Source: vanguardngr.com