The Naira has appreciated in value against the dollar in both the parallel market and the Nigerian Foreign Exchange Market.

In the parallel market, the Naira on Thursday traded at N1,530 per dollar, up from N1,537 per dollar on Wednesday.

Similarly, in the NFEM, the Naira appreciated to N1,490 per dollar from N1,498 per dollar on Wednesday, indicating an N8 appreciation for the Naira.

As a result of the appreciation, the margin between the parallel market and NFEM rate widened to N40 per dollar from N39 per dollar on Wednesday.

Data published by the Central Bank of Nigeria showed the exchange rate for the Naira fell to N1,490 per dollar from N1,498 per dollar on Wednesday.