The naira appreciated against the US dollar across key trading windows yesterday, strengthening in both the parallel market and the Nigerian Foreign Exchange Market (NFEM).
In the parallel market, the local currency rose to N1,525 per dollar, up from N1,530 per dollar recorded on Monday.
Similarly, data published by the Central Bank of Nigeria (CBN) showed that the naira closed at N1,506.5 per dollar at the NFEM, gaining N6.5 from N1,513 per dollar on Monday.
As a result, the gap between the parallel market and the NFEM rate widened to N18.5 per dollar, compared to N17 per dollar at the start of the week.