Naira rises to N1,403 in parallel market

2026-03-18 - 03:23

By Elizabeth Adegbesan The Naira yesterday appreciated to N1,403 per dollar in the parallel market from N1,408 per dollar on Monday. Similarly, the naira appreciated to N1,345 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 N1,345 per dollar from N1,355 per dollar on Monday, reflecting N10 appreciation for the naira. Consequently, the margin between the parallel and official markets narrowed to N48 per dollar from N53 per dollar on Monday.