Naira climbs to N1,537 per Dollar on parallel market

The Nigerian Naira appreciated slightly against the US dollar on Friday, trading at N1,537 per dollar in the parallel market, up from N1,540 per dollar recorded the previous day.

Similarly, the Naira strengthened in the Nigerian Foreign Exchange Market (NFEM), where it traded at N1,535 per dollar.

According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved from Thursday’s N1,536 per dollar to N1,535 per dollar, reflecting a marginal N1 gain.

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As a result, the gap between the parallel market rate and the NFEM rate narrowed to N2 per dollar, down from a difference of N4 per dollar on Thursday.