By Elizabeth Adegbesan
The Naira today appreciated to N1,476 per dollar in the parallel market from N1,487 per dollar on Thursday.
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However, the Naira depreciated to N1,466.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,466.5 per dollar from N1,462.9 per dollar on Thursday. This indicates N3.6 depreciation for the naira.
Consequently, the margin between the parallel and official markets narrowed to N9.5 per dollar from N24.1 per dollar on Thursday.
This week, the naira weakened by N12.5 against the dollar in the official market.
However, the local currency gained N4 against the greenback in the parallel market.
The post Naira appreciates to N1,476/$ in black market appeared first on Vanguard News.
