Naira Rises to N1,555/$ in Parallel Market

The Naira yesterday appreciated to N1,555 per dollar in the parallel market from N1,560 per dollar on Monday.

Similarly, the Naira appreciated to N1,536.8 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,536.8 per dollar from N1,538.4 per dollar on Monday, indicating N2.2 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N18.2 per dollar from N21.6 per dollar on Monday.