The Nigerian Naira showed strength against the dollar, reaching N1,470 per dollar in the parallel market, a slight improvement from N1,475 on Monday.
Moreover, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira saw an uptick to N1,465.68 per dollar, according to data from FMDQ. This reflects a notable appreciation compared to Monday’s rate of N1,468.99 per dollar, indicating a gain of N3.31 for the Naira.
With this rise, the gap between the parallel market and NAFEM rates has narrowed to N4.32 per dollar, showcasing a positive trend compared to Monday’s margin of N6.01 per dollar.
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