Naira strengthens to N1,555/$ in parallel market

The Naira strengthened against the dollar in the parallel market, reaching N1,555 per dollar on Monday, up from N1,570 per dollar last Friday.

According to Top newspaper, However, in the Nigerian Foreign Exchange Market (NFEM), the Naira weakened slightly to N1,512 per dollar, compared to N1,511 per dollar the previous weekend.

According to data from the Central Bank of Nigeria (CBN), the gap between the parallel market and NFEM exchange rates narrowed to N43 per dollar, down from N59 per dollar last week.