The Nigerian naira has seen an uptick in its value, now trading at N1,375 per dollar in the parallel market, compared to N1,380 from Thursday. In the Nigerian Foreign Exchange Market (NFEM), the currency also appreciated to N1,349 per dollar, down from N1,350.45.
According to the Central Bank of Nigeria (CBN), this reflects a positive shift for the naira, indicating a N1.45 appreciation in the official market. As a result, the gap between the parallel and official markets has decreased to N29 per dollar, down from N29.55 previously.
Additionally, the interbank turnover in the NFEM experienced a significant increase, soaring by 130.8 percent to $232.9 billion, up from $100.9 billion.
