The Nigerian currency, Naira appreciates to ₦1590 in parallel market.
The value of the Naira increased yesterday, with the exchange rate to N1,590 per dollar in the black market, from N1,600 per dollar last weekend.
However, the Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria, CBN, published the data which 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.
Moreover the margin between the parallel market and NFEM rate has been narrowed to N41 per dollar from N52 per dollar last weekend.
