Naira down to N1,555/$ in parallel market
But the Naira appreciated to N1,534.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Where Truth Meets Purpose
But the Naira appreciated to N1,534.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Consequently, the margin between the parallel market and NFEM rate widened to N24.6 per dollar from N18.2 per dollar on Tuesday.
It also holds that the FX market will be stable in the near term, supported by the CBN’s ongoing refinement of existing policies.
The Naira today appreciated to N1,560 per dollar in the parallel market from N1,565 per dollar on Thursday.
But the naira depreciated to N1,534 per dollar in the Nigerian Foreign Exchange Market (NFEM).
During the past week, the highest amount that the naira traded for was 1,538/$, and the lowest was 1,515/$ on the NFEM.
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira appreciated by 0.22 per cent.
The naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,570 per dollar on Monday.