The naira experienced mixed fortunes in the foreign exchange market on Tuesday. In the parallel market, the naira appreciated to N1,618 per dollar from N1,620 per dollar on Monday, gaining N2.
However, in the Nigerian Foreign Exchange Market, the naira depreciated to N1,604 per dollar from N1,599 per dollar on Monday, losing N5.
According to data published by the Central Bank of Nigeria, the indicative exchange rate for the naira rose to N1,604 per dollar from N1,599 per dollar on Monday.
As a result of the changes in both markets, the margin between the parallel market and NFEM rate narrowed to N14 per dollar from N21 on Monday.
Tags: Naira appreciates
