Naira appreciates to N1,585/$

 

The naira yesterday appreciated to N1,585 per dollar in the parallel market from N1,590 per dollar last weekend. Likewise, the Naira appreciated to N1,543 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 N1,543 per dollar from N1,554 per dollar last week Friday, indicating N11 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N26 per dollar from N36 per dollar last weekend.

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