File: A vendor holds old banknotes at Awgbu market in Anambra State, southeast Nigeria, on February 17, 2023. (Photo by PIUS UTOMI EKPEI / AFP)
The naira on Wednesday appreciated to ₦1,369 per dollar in the Nigerian Foreign Exchange Market (NFEM).
According to data from the Central Bank of Nigeria (CBN), the indicative exchange rate for the market fell to ₦1,369 per dollar from ₦1,376 per dollar on Tuesday.
This indicates a ₦7 appreciation for the naira.
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Similarly, the greenback appreciated to ₦1,385 per dollar in the parallel market from ₦1,390 per dollar on Tuesday.
Consequently, the margin between the parallel and official markets widened to ₦16 per dollar from ₦14 per dollar on Tuesday.
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