The Nigerian naira strengthened against the U.S. dollar on Friday, appreciating in both the parallel market and the official foreign exchange window.
At the parallel market, the naira rose to ₦1,410 per dollar, up from ₦1,418 per dollar recorded on Thursday.
The currency also posted gains in the official market, trading at ₦1,363.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Figures released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate improved from ₦1,370 per dollar on Thursday to ₦1,363.5 per dollar, representing an appreciation of ₦6.5 for the naira.
The development also narrowed the gap between the official and parallel exchange rates.
As a result, the margin between both markets declined to ₦46.5 per dollar, compared to ₦48 per dollar recorded the previous day.
