Naira appreciates to N1,467/$ in parallel market

Naira

The naira showed mixed performance today, recording slight movements in both the parallel market and the official window.

In the parallel market, the naira strengthened a bit, moving from ₦1,470/$1 on Monday to ₦1,467/$1.

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However, at the Nigerian Foreign Exchange Market (NFEM), the currency weakened, slipping from ₦1,447/$1 to ₦1,458/$1, according to new figures released by the Central Bank of Nigeria.

This means the naira lost ₦11 at the official window.

With these changes, the gap between the parallel market rate and the NFEM rate has now narrowed to ₦9, down from ₦23 on Monday.

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