Naira Appreciates To N1,660/$ In Parallel Market

The Naira appreciated in the parallel market on Friday, strengthening to N1,660 per dollar from N1,665 per dollar on Thursday.

Similarly, the Naira appreciated to N1,531 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 N1,531 per dollar from N1,548 per dollar on Thursday, indicating N17 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N129 per dollar from N117 per dollar on Thursday.