Yesterday, the naira experienced an appreciation to N1,430 per dollar in the parallel market, up from N1,470 per dollar recorded over the weekend.

Similarly, the naira experienced an appreciation to N1,408.04 per dollar in the Nigerian Foreign Exchange Market (NAFEM) yesterday.

Data sourced from FMDQ indicated that the indicative exchange rate for NAFEM declined from N1,431.49 per dollar recorded last week Friday, reflecting a N23.45 appreciation for the naira.

As a result, the margin between the parallel market rate and NAFEM narrowed to N21.96 per dollar, down from N38.51 per dollar reported last week Friday.

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