The naira rose to 1,615 naira in the parallel market.
The naira strengthened to N1,615 per dollar in the parallel market yesterday, from N1,620 per dollar on Wednesday. Similarly, the naira strengthened to N1,593.93 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday. According to FMDQ data, the benchmark exchange rate at NAFEM weakened to N1,593.93 per dollar from N1,606.56 per dollar on Wednesday, a N12.66 appreciation. Dollar turnover (sales) at NAFEM fell 3.3% to $155.52 million from $160.94 million on Wednesday. As a result, the spread between the parallel market and NAFEM rates widened to N21.07 per dollar from N13.41 on Wednesday.
