Naira now N1,490/$ in parallel market

2026-01-27 - 00:06

By Elizabeth Adegbesan The Naira yesterday appreciated to N1,490 per dollar in the parallel market from N1,495 per dollar last weekend. Similarly, the naira depreciated to N1,416.5 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 fell to N1,416.5 per dollar from N1,421.9 per dollar last weekend, reflecting N5.4 appreciation for the naira. Consequently, the margin between the parallel and official markets widened to N73.5 per dollar from N73.1 per dollar last week Friday.