Naira appreciates to N1,390/$ in parallel market

The Naira appreciated to N1,390 per dollar in the parallel market, up from N1,392 per dollar on Monday. However, it also depreciated to N1,383 per dollar in the Nigerian Foreign Exchange Market, reflecting a N14 depreciation. The margin between the parallel and official markets narrowed to N7 per dollar from N23 on Monday. Turnover in the interbank foreign exchange market grew by 28.8 percent to $98.8 million from $76.7 million.