The Naira yesterday appreciated to N1,565 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,515.06 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by FMDQ Exchange showed that the indicative exchange rate for the naira rose to N1,515.06 per dollar from N1,511.63 per dollar on Wednesday, showing N3.43 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N49.94 per dollar from N58.37 per dollar on Wednesday.
