Naira appreciates to N1,375/$ in parallel market

The Naira appreciated to N1,375 per dollar in the parallel market from N1,383 on Tuesday. In the Nigerian Foreign Exchange Market (NFEM), it appreciated to N1,328 per dollar from N1,331. The margin between the parallel and official markets narrowed to N47 per dollar from N52. Interbank turnover in NFEM increased by 181.5 percent to $279.2 million, while external reserves rose to $54.674 billion, boosting the Naira's outlook.

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