Yesterday, the Naira appreciated to N1,650 per dollar in the parallel market from N1,665 per dollar on Monday.
However, the Naira depreciated to N1,538 per dollar in the official foreign exchange market.
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) rose to N1538 per dollar from N1,534.56 per dollar on Monday, indicating N3.44 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N112 per dollar from N130.44 per dollar on Monday.
