The naira appreciated to N1,535.4 against the United States dollar in the Nigerian Foreign Exchange Market (NFEM) on Wednesday, August 13, 2024.
However, the naira depreciated to N1,560 per dollar in the parallel market from N1,555 per dollar recorded on Tuesday.
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Data published by the Central Bank of Nigeria (CBN) showed that the exchange rate for the currency rose to N1,535.4 per dollar from N1,536.8 per dollar on Tuesday, indicating N1.4 appreciation for the local currency.
The margin between the parallel market and NFEM rate widened to N24.6 per dollar from N18.2 per dollar recorded on Tuesday.
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