By Elizabeth Adegbesan

The naira today appreciated to N1,410 per dollar in the parallel market from N1,418 per dollar on Thursday.

Similarly, the naira appreciated to N1,363.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the naira fell to N1,363.5 per dollar from N1,370 per dollar on Thursday, reflecting a N6.5 appreciation for the naira.

Consequently, the margin between the parallel and official markets narrowed to N46.5 per dollar from N48 per dollar on Thursday.