The Naira strengthened to N1,560 per dollar in the parallel market yesterday, improving from N1,570 per dollar recorded on Wednesday.
However, in the Nigerian Foreign Exchange Market (NFEM), the Naira weakened to N1,540 per dollar, marking a slight depreciation.
Data from the Central Bank of Nigeria (CBN) showed the indicative exchange rate rose to N1,540 per dollar from N1,539 per dollar, reflecting a N1 decline.
As a result, the exchange rate gap between the parallel market and NFEM narrowed to N20 per dollar, down from N31 per dollar on Wednesday.
