Naira strengthens to N1,390 per dollar on the black market
The Naira's value increased in the parallel market, rising to N1,390 per dollar, a slight gain from the N1,392 per dollar recorded on Monday, according to Elizabeth Adegbesan.
nIn contrast, the Nigerian Foreign Exchange Market, NFEM, saw the naira's value decline to N1,383 per dollar.
nCentral Bank of Nigeria, CBN, data revealed that the naira's indicative exchange rate climbed to N1,383 per dollar, up from N1,369 per dollar on Monday, marking a N14 decline in the naira's value.
nThis change led to a narrowing of the gap between the parallel and official markets to N7 per dollar, down from the N23 per dollar difference seen on Monday.
nThe interbank foreign exchange market experienced a significant boost, with turnover increasing by 28.8 percent to reach $98.8 million, up from $76.7 million.
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