Naira rises to N1,456 per dollar in parallel market
In the parallel market, the value of the Naira increased from N1,460 on Thursday to N1,455 today.
On the Nigerian Foreign Exchange Market (NFEM), however, the value of the naira fell to N1,438.50 per dollar.
The exchange rate for the naira increased from N1,437.5 to N1,438.5 per dollar on Thursday, according to data released by the Central Bank of Nigeria, or CBN, suggesting a N1 depreciation.
Consequently, the difference between the NFEM rate and the parallel market shrank from N22.50 per dollar on Thursday to N17.50 per dollar. The naira lost 50 kobo on the official market and N1 on the parallel market this week.
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