The Naira today appreciated to N1,455 per dollar in the parallel market, an improvement from the N1,460 per dollar recorded on Thursday.

However, the Nigerian currency depreciated in the Nigerian Foreign Exchange Market.

Data published by the Central Bank of Nigeria showed that the exchange rate for the naira rose to N1,438.5 per dollar from N1,437.5 per dollar on Thursday, indicating an N1 depreciation for the naira in the official window.

As a result of these movements, the margin between the parallel market and the NFEM rate narrowed significantly, moving to N17.50 per dollar today from N22.50 per dollar on Thursday.

Reviewing the week’s performance, the naira weakened by 50 kobo in the official market and N1 in the parallel market, respectively.