Naira appreciates to N1,396/$ in parallel market

The naira appreciated to N1,396 per dollar in the parallel market, up from N1,400 per dollar last Thursday. However, it depreciated to N1,389 per dollar in the Nigerian Foreign Exchange Market, according to data from the Central Bank of Nigeria. The margin between the parallel and official markets narrowed to N5 per dollar from N17.25 last week. Additionally, the number of deals at the interbank market declined by 18 percent from the previous week.