Naira appreciates to N1260/$ in parallel market

By Abiodun OBA

The Naira on Wednesday, appreciated to N1,260 per dollar in the parallel market, from N1,270 per dollar on Monday.

Similarly, in the NAFEM, the Naira appreciated to N1,262.85 per dollar.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,262.85 per dollar from N1,278.58 per dollar on Monday, indicating N15.73 appreciation for the naira.

Consequently, the margin between the parallel market rate and NAFEM narrowed to N2.85 per dollar from N8.58 per dollar on Monday.

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