The Naira appreciated in the parallel market yesterday, strengthening to N1,555 per dollar from N1,570 per dollar recorded last Friday.
However, in the Nigerian Foreign Exchange Market (NFEM), the local currency depreciated slightly, trading at N1,512 per dollar, compared to N1,511 per dollar last weekend, marking a N1 loss.
According to data from the Central Bank of Nigeria (CBN), the gap between the parallel market and the NFEM narrowed to N43 per dollar, down from N59 per dollar last Friday.
