The local currency had recorded a N25 appreciation against the dollar since the beginning of the week, when it traded at N1,600 per dollar in the parallel market.


Naira appreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1537 per dollar from N1,543 per dollar, indicating N6 appreciation for the naira.

At the end of the week, naira appreciated at the rate of N13 against the dollar in the official market, opening the week at N1,550 per dollar and the margin between the parallel market and NFEM rate widened to N38 per dollar from N37 per dollar.