Naira strengthens to N1,537/$ in parallel market
By Deborah Nnamdi
The Naira appreciated to N1,537 per dollar in the parallel market on Friday, strengthening from N1,540 per dollar recorded on Thursday.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the local currency gained to N1,535 per dollar, compared to N1,536 the previous day, according to data from the Central Bank of Nigeria (CBN).
This marks a N1 appreciation in the official exchange rate and narrows the gap between the parallel market and NFEM rates to just N2 per dollar, down from N4 per dollar on Thursday.
