Naira rises to N1,438/$ in parallel market
By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,438 per dollar in the parallel market from N1,447 per dollar on Wednesday.
But the naira depreciated to N1,355 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,355 per dollar from N1,350 per dollar on Wednesday reflecting N5 depreciation for the naira.
Consequently, the margin between the parallel and official markets narrowed to N88 per dollar from N97 per dollar on Wednesday.
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