The Naira on Tuesday appreciated to ₦1,487 per dollar in the parallel market, up from ₦1,491 per dollar recorded on Monday.

Similarly, the Naira appreciated in the Nigerian Foreign Exchange Market.

Data published by the Central Bank of Nigeria showed that the exchange rate for the Naira fell to ₦1,447 per dollar in the NFEM, down from ₦1,452.5 per dollar on Monday, indicating a ₦5.5 appreciation for the Naira in the official market.

Consequently, the margin between the parallel market rate and the NFEM rate widened to ₦40 per dollar, up from ₦38.5 per dollar recorded on Monday.