Naira appreciates to N1,500/$ in parallel market

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The Naira Monday appreciated to N1,500 per dollar in the parallel market, stronger than the N1,510 per dollar recorded last weekend.

However, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated slightly to N1,480.15 per dollar.Nigerian sports gear

Data published by the Central Bank of Nigeria (CBN) showed that the official exchange rate weakened to N1,480.15 per dollar from N1,480 per dollar last Friday, representing a 15 kobo depreciation.Nigerian sports gear

As a result, the gap between the parallel market and the NFEM rate narrowed to N19.85 per dollar, compared to N30 per dollar last weekend.