Naira Appreciates To ₦1,590/$ In Black Market

The Naira yesterday appreciated to N1, 590 per dollar in the parallel market from N1,600 per dollar last weekend.

However, the Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,549 per dollar from N1,548 per dollar last week Friday, indicating N1 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N41 per dollar from N52 per dollar last weekend.

Source:- Vanguardngr

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