Naira Appreciates To ₦1,470/$ In Parallel Market

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The Naira experienced a notable appreciation against the US Dollar in the parallel market as well as the Nigerian Autonomous Foreign Exchange Market (NAFEM), according to the latest financial reports.

Naija News reports that on Tuesday, the Naira strengthened to ₦1,470 per dollar, up from Monday’s rate of ₦1,475 per dollar in the parallel market.

 

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The appreciation continued in NAFEM, where the Naira climbed to ₦1,465.68 per dollar from ₦1,468.99 per dollar on Monday, reflecting a significant improvement of ₦3.31.

 

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Data sourced from FMDQ revealed that the difference between the rates in the parallel market and NAFEM has reduced to ₦4.32 per dollar, down from ₦6.01 per dollar at the start of the week.

 

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