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Naira appreciates to N1,495 per dollar in parallel market

On Monday, the Naira was worth N1,500 per dollar, but yesterday it was worth N1,495 per dollar on the parallel market.  

However, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira dropped to N1,464.5 per dollar.  

The Central Bank of Nigeria (CBN) released data indicating a 50 kobo depreciation in the value of the naira, with the exchange rate rising to N1,464.5 per dollar from N1,464 per dollar on Monday.  

As a result, the difference between the NFEM rate and the parallel market dropped from N36 to N35.5 per dollar on Monday.

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