Naira appreciates to N1,380/$ in parallel market

The Naira appreciated to N1,380 per dollar in the parallel market on Tuesday, up from N1,390 the previous day. However, it depreciated slightly to N1,329.5 per dollar in the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria. The margin between the parallel and official markets narrowed to N50.5 per dollar, while interbank turnover in NFEM grew by 177.6 percent to $262.12 million.

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