On Tuesday, the naira rose to N1,755 per dollar in the parallel market from N1,770 per dollar on Monday.

In a similar vein, the naira appreciated to N1,659.44 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).

According to data from FMDQ, the indicative exchange rate for NAFEM fell to N1,659.44 per dollar from N1,675.62 per dollar on Monday,

The above Indicates N16.18 appreciation for the naira while the volume of dollars traded saw an increase by 219.5 per cent to $425.98 million from $108.79 million traded on Monday.

As a result, the margin between the parallel market and the NAFEM rate narrowed to N95.56 per dollar from N117.38 per dollar on Monday. (Daily Sun)