By Elizabeth Adegbesan
The naira today appreciated to N1,560 per dollar in the parallel market from N1,580 per dollar on Thursday.

But the Naira depreciated to N1,528.5 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 rose to N1528.5 per dollar from N1,527.5 per dollar on Thursday , indicating N1 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N32.5 per dollar from N42.5 per dollar the previous day.