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    Home » Naira Gains In Parallel Market, But Weakens In Nigerian Foreign Exchange Market
    1 Min ReadMarch 26, 2025

    Naira Gains In Parallel Market, But Weakens In Nigerian Foreign Exchange Market

    By Samuel AkpenpuunMarch 26, 2025No Comments1 Min Read
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    The Naira on Wednesday appreciated to N1,575 per dollar in the parallel market from N1,585 per dollar on Monday.

    However, the Naira depreciated to N1,535 per dollar in the Nigerian Foreign Exchange Market (NFEM).

    READ ALSO: Asian Markets Rise As Hopes Grow Over Trump’s Tariff Strategy

    Data published by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the naira rose to N1,535 per dollar from N1,533 per dollar on Monday, indicating N2 depreciation for the naira.

    Consequently, the margin between the parallel market and NFEM rate narrowed to N40 per dollar from N52 per dollar on Monday.

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    • Samuel Akpenpuun
      Samuel Akpenpuun

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