By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,530 per dollar in the parallel market from N1,535 per dollar last week Thursday.
But, the Naira depreciated to N1,513 per dollar reaching a new level 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 N1,513 per dollar from N1,511.5 per dollar last week Thursday, indicating N1.5 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N17 per dollar from N23.5 per dollar last Thursday.
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