NAIJA NEWS
The Naira experienced an appreciation on Wednesday, rising to ₦1,630 per dollar in the parallel market, up from ₦1,640 per dollar on Tuesday.
The Naira also strengthened in the official foreign exchange market, reaching ₦1,507 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the exchange rate in the Nigerian Foreign Exchange Market (NFEM) decreased to ₦1,507.3 per dollar from ₦1,520 per dollar on Tuesday, reflecting an appreciation of ₦12.7 for the Naira.
As a result, the gap between the parallel market rate and the NFEM rate increased to ₦122.7 per dollar, compared to ₦120 per dollar on Tuesday.
Connect with us on our socials: