By Elizabeth Adegbesan
The Naira yesterday appreciated to N1,380 per dollar from N1,390 in the parallel market on Monday
But the naira depreciated to N1,3295 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,3295 per dollar from N1,329 per dollar on Monday, indicating 50 kobo depreciation for the local currency.
Consequently, the margin between the parallel and official markets narrowed to N505 per dollar from N61 per dollar on Monday.
The value of interbank turnover in NFEM grew by 1776 percent to $262.12 million from $94.4 million on Monday.