Naira rises to N1,387/$ in parallel market

The Naira appreciated to N1,387 per dollar in the parallel market on Tuesday, up from N1,390 on Monday. Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira strengthened to N1,322.9 per dollar, according to data from the Central Bank of Nigeria. The margin between the parallel and official markets narrowed to N64.1 per dollar from N70 per dollar. Interbank turnover in NFEM declined by 48.07 percent to $55.6 million from $107.07 million.

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