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Naira appreciates to N1,555 per dollar in parallel market
The value of the Naira increased from N1,570 per dollar last Friday to N1,555 per dollar yesterday on the parallel market.
However, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira dropped to N1,512 per dollar.
The Naira depreciated by N1, as evidenced by data released by the Central Bank of Nigeria (CBN), which revealed that the indicative exchange rate increased to N1,512 per dollar in NFEM from N1,511 per dollar last weekend.
As a result, last Friday's difference between the NFEM rate and the parallel market dropped from N59 to N43 per dollar.
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