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Naira appreciates to N1,575/$ in parallel market

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The naira on Friday appreciated to N1,575 per dollar in the parallel market from N1,580 per dollar on Thursday.

The local currency had recorded a N25 appreciation against the dollar since the beginning of the week, when it traded at N1,600 per dollar in the parallel market.

Similarly, the Naira appreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1537 per dollar from N1,543 per dollar on Thursday, indicating N6 appreciation for the naira.
Likewise, the Naira closed the week at an appreciation of N13 against the dollar in the official market, opening the week at N1,550 per dollar.

Consequently, the margin between the parallel market and NFEM rate widened to N38 per dollar from N37 per dollar on Thursday.


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Michael Tanyare Professionally known as Starmich is a talented and accomplished individual with a passion for excellence. With a strong background in writing, Michael has established himself as a respected professional in the blogging industry. Beyond his professional endeavors, Michael is known for his diverse range of interests. He is an avid online journalist, which further showcases his well-rounded personality and passion for exploring new horizons. Michael's commitment to continuous growth and learning is evident in his pursuit of excellence. This drive allows him to stay at the forefront of emerging trends and maintain a competitive edge in his field. With a warm and approachable demeanor, Michael is highly regarded for his strong communication skills and ability to connect with others. He thrives in collaborative environments and enjoys building meaningful relationships with colleagues and clients alike. In his free time, Michael enjoys surfing the internet. This balance between his professional and personal life reflects his belief in leading a fulfilling and well-rounded lifestyle. With a proven track record of success and a genuine passion for his work, Michael Tanyare continues to make a significant impact in his field. His dedication, expertise, and personable nature make him a valuable asset to any project or team."

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