The naira yesterday appreciated to N1,350 per dollar in the parallel market from N1,430 per dollar on Monday.
Similarly, the naira yesterday appreciated to N1,382.95 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,382.95 per dollar from N1,408.04 per dollar on Monday, indicating N25.09 appreciation for the naira.
Consequently, the margin between the parallel market rate and NAFEM widened to N32.95 per dollar from N21.96 per dollar on Monday.
