Godsent Ogbebor
Naira Appreciates to N1,565/$ in Parallel Market
The Naira appreciated to N1,565 per dollar in the parallel market on Tuesday, strengthening from N1,570 per dollar recorded on Monday.
However, in the Nigerian Foreign Exchange Market (NFEM), the currency depreciated to N1,537 per dollar, down from N1,528 per dollar the previous day, marking a N9 decline.
According to data from the Central Bank of Nigeria (CBN), the gap between the parallel market and the official NFEM rate narrowed to N37 per dollar, compared to N42 per dollar on Monday.
Read also: Naira Stays Steady as CBN Extends BDC Access to FX Market Until May 2025
