The Naira had yesterday appreciated to N1,590 per dollar in the parallel market from N1,600 per dollar last weekend.
However, the Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,549 per dollar from N1,548 per dollar last week Friday, indicating N1 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N41 per dollar from N52 per dollar last weekend.
Kehinde Ayanboade
Kehinde Ayanboade is an award-winning journalist, brand designer, and the Managing Editor and Publisher of Naija Metro News. With over eight years of experience in political reporting, state assembly coverage, and media strategy, his work covers Nigerian politics, metropolitan developments, and cultural history.
