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Naira makes gain, exchanges for N1,600/$ in parallel market
Data published by the Central Bank of Nigeria, CBN showed that the exchange rate for the naira fell to N1,605 per dollar from N1,606 per dollar last week Friday, indicating a N1 appreciation for the naira.
The naira yesterday appreciated to N1, 600 per dollar in the parallel market from N1,610 per dollar last weekend. Similarly, the Naira recorded slight appreciation to N1,605 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 N1,605 per dollar from N1,606 per dollar last week Friday, indicating a N1 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N5 per dollar from N4 per dollar last weekend.
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