Naira Rises to ₦1,385/$ in Parallel Market as Official Rate Hits ₦1,360

The Naira strengthened to ₦1,385 per dollar in the parallel market, up from ₦1,395 yesterday. In the official Nigerian Foreign Exchange Market, the rate improved to ₦1,360.22 from ₦1,366 per dollar, narrowing the gap between the two markets to ₦24.78. Interbank turnover dipped by 5.11% to $168.82 million from $177.92 million, according to Central Bank data. Speculation continues on when the dollar might reach ₦1,000 again.

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