The Naira yesterday appreciated to N1,550 per dollar in the parallel market, up from N1,555 per dollar recorded on Tuesday.
However, in the Nigerian Foreign Exchange Market (NFEM), the currency weakened, trading at N1,537.9 per dollar.
Data released by the Central Bank of Nigeria (CBN) showed that the official exchange rate slipped to N1,537.99 per dollar, compared to N1,534.5 per dollar on Tuesday — representing a depreciation of N3.49.
As a result, the margin between the parallel market and NFEM rates narrowed to N17.01 per dollar, down from N20.5 per dollar the previous day.
