The naira recorded mixed performance across currency markets yesterday. In the parallel market, it appreciated to ₦1,560 per US dollar, an improvement from the ₦1,565 per dollar exchange rate recorded last Friday.
Conversely, the currency lost ground in the Nigerian Foreign Exchange Market (NFEM), where it closed at ₦1,538.4 per dollar. This marks a depreciation from the ₦1,534.9 per dollar recorded last weekend, representing a drop of ₦3.5.
Figures from the Central Bank of Nigeria (CBN) reveal that the disparity between the parallel market rate and the NFEM rate narrowed notably, falling to ₦21.6 per dollar from ₦30.1 per dollar a week earlier.
