By Our Reporter
The Nigerian naira strengthened to ₦1,410 per dollar in the parallel market on Friday, improving from ₦1,418 per dollar recorded on Thursday.
The local currency also gained in the Nigerian Foreign Exchange Market (NFEM), where it appreciated to ₦1,363.5 per dollar.
Data released by the Central Bank of Nigeria showed that the indicative exchange rate dropped from ₦1,370 per dollar the previous day to ₦1,363.5, representing a ₦6.5 appreciation for the naira.
As a result, the gap between the parallel market rate and the official exchange rate narrowed to ₦46.5 per dollar, compared with ₦48 per dollar recorded on Thursday.