Naira Strengthens to N1,300/$ on Parallel Market
The naira yesterday appreciated to N1,300 to a dollar on the parallel foreign exchange (FX) market in Lagos State, compared with the N1,350 to a dollar it closed the previous day.
On the official NAFEX, the naira had on Thursday, depreciated to N1,309.39/$, from N1,300.43/$ on March 27. The official arm of the FX market was closed yesterday, due to the public holiday to commemorate the Good Friday.
The Central Bank of Nigeria (CBN), yesterday, said the economy recorded over $1.5 billion in foreign exchange (FX) inflow this month, due to its restrictive monetary policy.
