Naira Appreciates at Official, Parallel Market Against U.S. Dollar

The Naira, today, Tuesday, appreciated to N1,270 per dollar in the parallel market, from N1,290 per dollar last week Thursday.

Similarly, the Naira appreciated in the NAFEM to N1,278.58 per dollar.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,278.58 per dollar from N1,309.39 per dollar last week Thursday, indicating N30.81 appreciation for the naira.

Consequently, the margin between the parallel market rate and NAFEM narrowed to N8.58 per dollar from N19.39 per dollar on last week Thursday.