The Naira gained strength against the dollar on Tuesday, appreciating to N1,640 per dollar in the parallel market, an improvement from the N1,655 per dollar recorded on Monday.
Similarly, in the official foreign exchange market, the local currency appreciated to N1,526.3 per dollar.
According to data released by the Central Bank of Nigeria, the exchange rate in the Nigerian Foreign Exchange Market declined to N1,526.3 per dollar from N1,533.5 per dollar on Monday, marking a N7.2 appreciation for the Naira.
As a result, the gap between the parallel market and the NFEM rate reduced to N113.7 per dollar, down from N121.5 per dollar the previous day.
Tags: Naira appreciates
