The Naira strengthened to N1,490 per dollar in the parallel market yesterday, up from N1,502 per dollar on Tuesday.
Similarly, the Nigerian Foreign Exchange Market (NFEM) recorded an appreciation, with the Naira closing at N1,499.8 per dollar.
Data from FMDQ showed that the indicative exchange rate for the Naira fell to N1,499.8 per dollar from N1,501 per dollar recorded on Tuesday, marking a 20 kobo gain.
As a result, the gap between the parallel market rate and the NFEM rate widened to N9.8 per dollar, compared to the 50 kobo difference recorded the previous day.
