Naira Appreciates To N1,565/$ In Parallel Market

Last updated: August 9, 2025 1:31 pm

By Yewande Oladipo

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Similarly, the naira appreciated to N1,534.9 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Naira

The Naira appreciated in the parallel market today, rising to N1,565 per dollar from N1,570 per dollar on Thursday.

Similarly, the naira appreciated to N1,534.9 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,534.9 per dollar from N1,535 per dollar on Thursday, indicating one kobo appreciation for the naira.

Consequently, the margin between the parallel market and the NFEM rate narrowed to N30.1 per dollar from N35 per dollar on Thursday.

This week, the naira lost N1.1 and N10 in the official and parallel markets, respectively, against the dollar.