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Naira strengthens to N1,460/$ in parallel market

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8 months ago

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The naira yesterday strengthened to N1,460 per dollar in the parallel market, improving from N1,470 per dollar recorded on Monday. 

The currency also appreciated in the Nigerian Foreign Exchange Market, exchanging at N1,447 per dollar.

Figures released by the Central Bank of Nigeria showed that the official rate moved from N1,450 per dollar on Monday to N1,447 per dollar, marking a gain of N3 for the naira.

As a result, the margin between the parallel market and NFEM rate narrowed to N13 per dollar from N20 per dollar on Monday.

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Pearl Essien is a digital content creator and a graduate of the prestigious University of Calabar. With over four years of experience in writing, she specializes in crafting engaging stories that inform and inspire readers. Outside of her work, Pearl enjoys storytelling, reading, and playing table tennis, bringing the same curiosity and passion to her hobbies as she does to her writing.

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