By Elizabeth Adegbesan
The Naira today appreciated to N1,475 per dollar in the parallel market from N1,489 per dollar on Thursday.
However, the naira appreciated to N1,427.5 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 fell to N1,427.5 per dollar from N1,431 per dollar on Thursday, indicating N3.5 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N47.5 per dollar from N38 per dollar on Thursday.
This week, the naira strengthened against the dollar across foreign exchange market.
The local currency appreciated by N25 against the dollar in the official market.
Similarly, the Naira gained N16 per dollar in the parallel market.
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