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July 22, 2026|06:31

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Forex

Naira appreciates to N1,409/$ in parallel market

Vanguard Nigeria about 1 hour 1 mins read

By Elizabeth Adegbesan

The Naira yesterday appreciated to N1,409 per dollar in the parallel market from N1,416 per dollar on Monday.

Similarly, the naira appreciated to N1,374.5 per dollar in the Nigerian Foreign Exchange Market, NFEM .
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1374.5 per dollar from N1378.5 per dollar on Monday, indicating N4 appreciation for the naira.

Consequently, the margin between the parallel and official markets narrowed to N34.5 per dollar from N37.5 per dollar on Monday.

The interbank turnover at NFEM rose by 21.2 percent to N322.7million yesterday from N266.2 million on Monday.

The post Naira appreciates to N1,409/$ in parallel market appeared first on Vanguard News.

This article was sourced from an external publication.

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