Nigerian Foreign Exchange Market

The naira yesterday appreciated to ₦1,560 per dollar in the parallel market from ₦1,565 last Friday. However, it weakened slightly in the Nigerian Foreign Exchange Market (NFEM), falling to ₦1,538.4 per dollar from ₦1,534.9, a ₦3.5 depreciation. According to Central Bank of Nigeria (CBN) data, the gap between the parallel market and NFEM rates narrowed…