Yesterday saw the naira appreciate to N1,620 per dollar within the parallel market, a rise from N1,625 per dollar recorded on Monday. In contrast, the naira depreciated in the Nigerian Foreign Exchange Market (NFEM), settling at N1,598.69 per dollar, down from N1,597 per dollar the day before, marking a N1.69 depreciation.
This shift has led to a reduction in the disparity between the parallel market and NFEM rates, which has contracted from N28 per dollar on Monday to N21.31 per dollar.
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria for retaining key monetary...
The Central Bank of Nigeria (CBN) has retained its benchmark interest rate at 26.5 per cent, reinforcing efforts to stabilise...
The Nigerian Exchange reversed a three-day bearish run on Tuesday, as investors gained N917 billion on the back of...
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