Naira appreciates to N1,640/$ in parallel market

The Naira today appreciated to N1,640 per dollar in the parallel market from N1,655 per dollar on Monday
Similarly, the Naira appreciated to N1,526.3 per dollar in the official foreign exchange market.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) fell to N1,526.3 per dollar from N1,533.5 per dollar on Monday , indicating N7.2 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N113.7 per dollar from N121.5 per dollar on Monday.