By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,455 per dollar in the parallel market from N1,475 per dollar last weekend.
But the naira depreciated to N1,438 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 N1,438 per dollar from N1,427.5 per dollar last week Friday, indicating N10.5 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N17 per dollar from N47.5 per dollar last weekend.
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