In the parallel market, the value of the Naira dropped from N1,472 to N1,475 per dollar over the weekend.
However, on the Nigerian Foreign Exchange Market, or NFEM, the value of the naira increased to N1,428 per dollar. The exchange rate for the naira decreased to N1,428 per dollar from N1,431 per dollar last weekend, indicating a N3 appreciation, according to data from the Central Bank of Nigeria (CBN).
BrandSpur banking and finance news desk reports that as a result, the difference between the official and parallel markets increased from N41 to N47 per dollar on Friday of last week.
