The Naira saw a slight appreciation in the parallel market yesterday, strengthening to N1,512 per dollar from N1,515 per dollar recorded on Tuesday.
Conversely, in the Nigerian Foreign Exchange Market, the currency experienced a depreciation, settling at N1,505 per dollar.
According to data from the Central Bank of Nigeria, the indicative exchange rate for the naira climbed to N1,505 per dollar, up from N1,502 per dollar on Tuesday, reflecting a depreciation of N3.
As a result, the gap between the parallel market and NFEM rates narrowed to N7 per dollar, compared to the N13 per dollar difference observed on Tuesday.
Tags: Naira appreciates
