Naira exchanges at N1,440/$ in parallel market

The Naira on Friday, February 2, exchanged at N1,440 to a dollar, from N1,450 per dollar on Thursday, February 1. 

The Naira also appreciated to N1,435.53 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,435.53 per dollar from N1,461.9 per dollar on Thursday, indicating N26.37 appreciation for the naira.

The gap between the official and parallel market exchange rates has now been narrowed to N4.47 per dollar.