Naira Appreciates to N1,662/$ in Parallel Market

• The Naira appreciated to N1,662 per dollar in the parallel market, up from N1,668 per dollar on Thursday.
• In contrast, the Naira depreciated to N1,540 per dollar in the official foreign exchange market.
• The margin between the parallel market and official market rates narrowed to N122 per dollar.

The Naira has shown a mixed performance in the foreign exchange market, appreciating in the parallel market while depreciating in the official market. In the parallel market, the Naira gained strength, appreciating to N1,662 per dollar from N1,668 per dollar on Thursday.

However, in the official foreign exchange market, the Naira depreciated to N1,540 per dollar, down from N1,534.6 per dollar on Thursday. This depreciation indicates a loss of N5.4 in value.