By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,492 per dollar in the parallel market from N1,495 per dollar on Tuesday. But the Naira depreciated to N1,462 per dollar 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 N1,462 per dollar from N1,464.5 per dollar on Tuesday, indicating N2.5 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N30 per dollar from N35.5 per dollar on Tuesday.
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