Naira appreciates to N1,380/$ in parallel market

By Elizabeth Adegbesan
The Naira today appreciated to N1,380 per dollar from N1,385 in the parallel market on Thursday.
Similarly, the naira appreciated to N1,329.99 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,329.99 per dollar from N1,331 per dollar on Thursday, indicating N1.01 appreciation for the local currency.
Consequently, the margin between the parallel and official markets narrowed to N50.01 per dollar from N54 per dollar on Thursday.
The value of interbank turnover in NFEM increased by 93.2 percent to $162.7 million from $84.2 million on Thursday....