The Naira yesterday appreciated to N1,380 per dollar in the parallel market from N1,382 per dollar on Tuesday. Similarly, the naira appreciated to N1,361 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data from the Central Bank of Nigeria (CBN), showed that the indicative exchange rate for the naira fell to N1,361 per dollar from N1,362 per dollar on Tuesday, reflecting N1 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N21 per dollar from N20 per dollar on Tuesday.
The turnover in the interbank foreign exchange market increased sharply by 120.9 percent to $158.2 million from $71.6 million on Tuesday.
