Naira Rises To N1,515/$ In Parallel Market
The Naira gained strength against the US dollar, reaching an exchange rate of N1,486.8/$1 in the Nigerian Foreign Exchange Market (NFEM).

Naira

In a positive turn, the Naira saw an uptick in the parallel market, trading at N1,515/$1 on Wednesday, marking an improvement from the previous day’s rate of N1,518/$1.

Official data from the Central Bank of Nigeria (CBN) revealed a notable appreciation in the NFEM, with the Naira strengthening to N1,486.8/$1, up from N1,493.2/$1 recorded on Tuesday.

This represents an N6.4 gain for the local currency in the official foreign exchange window, signaling renewed investor confidence.