Naira Appreciates To N1,470 /$ In Parallel Market

0 300

The Naira on Friday appreciated to N1,470 per dollar in the parallel market from  N1,495 per dollar on Thursday.

However, the Naira depreciated to N1,483.99 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM rose  to N1,483.99 per dollar from N1,481.49 per dollar on Thursday, indicating  N2.5 depreciation for the naira.

The volume of dollars (turnover) traded on the window increased by 26 percent to $269.27 million from $213.31 million traded on Thursday.

Consequently, the margin between the parallel market and NAFEM rates widened to N13.99 per dollar from N13.51  per dollar  on Thursday