By Elizabeth Adegbesan

The Naira today appreciated to N1,555 per dollar in the parallel market from N1,685 per dollar on Thursday.

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Similarly, the Naira appreciated to N1,535 per dollar in the official foreign exchange market.

Data from the Daily Nigerian Foreign Exchange Market (NFEM) published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,535 per dollar from N1,567 per dollar on Thursday, indicating N32 appreciation.

Consequently, the margin between the parallel market and NAFEM rate narrowed to N20 per dollar from N118 per dollar on Thursday.

Vanguard News