The Nigerian Naira today appreciated to N1,476 per dollar in the parallel market, up from N1,487 per dollar recorded on Thursday.
However, in the Nigerian Foreign Exchange Market (NFEM), the naira depreciated to N1,466.5 per dollar from N1,462.9 per dollar on Thursday, marking a N3.6 decline in the official exchange rate.
Data from the Central Bank of Nigeria (CBN) showed that the margin between the parallel and official markets narrowed significantly to N9.5 per dollar from N24.1 on Thursday.
Over the week, the naira weakened by N12.5 against the dollar in the official market, while it gained N4 in the parallel market, reflecting mixed trends in the local currency’s performance.
Emma Tochi ✔
Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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