Nigerian Naira appreciated in the parallel market to N1,650 per dollar on Tuesday, December 31, after close of trading compared to N1,655 on Monday.
Also, the Naira appreciated to N1,535 per dollar in the official foreign exchange market.
New data published by the Central Bank of Nigeria (CBN), showed that the exchange rate for the Nigerian Foreign Exchange Market (NFEM) fell to N1,535 per dollar from N1,537 per dollar on Monday, indicating N2 appreciation for the naira.
In addition, the margin between the parallel market and NFEM rate narrowed to N115 per dollar from N118 per dollar on Monday.
This comes as the FG and CBN have promised to enact policies in 2025 that will cushion the ever increasing gap between the Naira and Dollar.