Naira Appreciates To N1240/$ In Parallel Market

The naira appreciated yesterday to N1,240 per dollar in the parallel market from N1,250 per dollar last Friday

Similarly, the naira appreciated to N888.35 per dollar in the official Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N888.35 per dollar from N889.86 per dollar last week Friday, indicating a N1.51 appreciation for the naira.

As a result, the gap between the official and parallel market exchange rates narrowed to N351.65 per dollar yesterday from N360.14 per dollar last week Friday

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