The Naira appreciated to N1,560 per dollar in the parallel market yesterday, strengthening from N1,570 per dollar recorded on Wednesday.
However, in the Nigerian Foreign Exchange Market (NFEM), the currency depreciated to N1,540 per dollar, compared to N1,539 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN).
As a result, the gap between the parallel market and the official exchange rate narrowed to N20 per dollar, down from N31 per dollar recorded on Wednesday.