Naira appreciates against Dollar in black market, Ddepreciates at NFEM

The naira strengthened slightly in the parallel market on Wednesday, appreciating to N1,447 per dollar from N1,455 recorded on Tuesday.

However, the local currency weakened in the official Nigerian Foreign Exchange Market (NFEM), where it closed at N1,350 per dollar.

Figures released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate edged up from N1,349.5 per dollar the previous day to N1,350 per dollar, representing a marginal depreciation of 50 kobo.