The Naira appreciated to ₦1,565 per dollar in the parallel market on Tuesday, strengthening from ₦1,570 per dollar recorded the previous day.
However, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated to ₦1,537 per dollar, down from ₦1,528 per dollar on Monday, according to data from the Central Bank of Nigeria (CBN).
This represents a ₦9 decline in the official exchange rate, narrowing the gap between the parallel market and NFEM rates to ₦37 per dollar from ₦42 per dollar the previous day.
