The naira yesterday depreciated further in the parallel market, exchanging at N1,540 per dollar, weaker than N1,525 per dollar recorded on Tuesday.
However, it appreciated at the Nigerian Foreign Exchange Market (NFEM), closing at N1,502.5 per dollar compared to N1,506.5 per dollar the previous day.
Data released by the Central Bank of Nigeria (CBN) indicated a gain of N6.5 for the local currency in the official market.
As a result, the gap between the parallel market and the NFEM rate widened sharply to N37.5 per dollar, up from N18.5 per dollar on Tuesday.