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Naira strengthens to N1,465/$ in parallel market

Published

9 months ago

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 The naira gained strength yesterday, rising to N1,465 per dollar in the parallel market, compared to N1,474 per dollar recorded last weekend. 

The currency also appreciated in the Nigerian Foreign Exchange Market (NFEM), where it traded at N1,452 per dollar.

According to fresh data from the Central Bank of Nigeria (CBN), the official exchange rate improved from N1,458 per dollar last Friday to N1,452 per dollar, showing a N6 increase in value for the naira.

As a result, the margin between the parallel market and NFEM rate narrowed to N13 per dollar from N16 per dollar last weekend.

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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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