Naira Firms to ₦1,460/$ at Parallel Market
The naira strengthened on Tuesday, trading at ₦1,460 per dollar in the parallel market, up from ₦1,470 per dollar on Monday.
The local currency also appreciated in the Nigerian Foreign Exchange Market (NFEM), closing at ₦1,447 per dollar, up from ₦1,450 the previous day.
Data from the Central Bank of Nigeria (CBN) showed a ₦3 gain for the naira at the official window.
With the latest movement, the gap between the parallel market rate and the NFEM rate narrowed to ₦13 per dollar, down from ₦20 per dollar on Monday.
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