Naira marginally appreciates to N1,580/$ in parallel market

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,570 per dollar from N1,608.73 per dollar on Wednesday, indicating N38.73 appreciation for the naira.

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The volume of dollars traded in the market grew by 47 percent to $142.32 million from $270.81 million traded on Wednesday.

Consequently, the margin between the parallel market and NAFEM rate narrowed to N10 per dollar from N13.73 per dollar on Wednesday.

Naira marginally appreciates to N1,580/$ in parallel market