The Naira yesterday appreciated to N1,540 per dollar in the parallel market from N1,545 per dollar last weekend.

The Naira yesterday appreciated to N1,540 per dollar in the parallel market from N1,545 per dollar last weekend.

The new level was last recorded on July 3rd this year.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,527.5 per dollar from N1,531 per dollar last weekend, indicating N3.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N12.5 per dollar from N14 per dollar last week Friday.