Naira appreciates to N1,487/$ in parallel market

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By Alagbe Shenayon
194

The Naira strengthened on Tuesday, appreciating to N1,487 per dollar in the parallel market from N1,491 per dollar recorded on Monday.

Similarly, in the Nigerian Foreign Exchange Market (NFEM), the local currency appreciated to N1,447 per dollar.

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According to data from the Central Bank of Nigeria (CBN), the exchange rate dropped to N1,447 per dollar from N1,452.5 per dollar on Monday, reflecting a gain of N5.5.

As a result, the gap between the parallel market and NFEM rates widened slightly to N40 per dollar from N38.5 per dollar the previous day.

Alagbe Shenayon 17715 posts 0 comments

Alagbe Shenayon is an emerging multimedia journalist with a Bachelor’s Honours in Communication Studies and over two years of newsroom experience. He is known for accuracy, integrity, and an unrelenting drive to uncover the truth through clear, engaging, and reliable reporting.

His core interests include sports and political journalism and he is expanding into cryptocurrency and digital trends, positioning himself as a versatile modern journalist with a keen eye on emerging global conversations.

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