The Naira yesterday appreciated to N1,475 per dollar in the parallel market from N1,480 per dollar on Monday. Likewise, the naira appreciated to N1,452 per dollar in the Nigerian Foreign Exchange Market, NFEM.

Data from the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,452 per dollar from N1,456 per dollar on Monday , indicating N4 appreciation for the naira.

Consequently, the margin between the parallel and official markets narrowed to N23 per dollar from N24 per dollar on Monday.

By Elizabeth Adegbesan

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