The Naira strengthened to N1,575 per dollar in the parallel market on Tuesday, up from N1,585 per dollar on Monday.
However, in the Nigerian Foreign Exchange Market (NFEM), the Naira weakened to N1,535 per dollar, down from N1,533 per dollar the previous day.
According to data from the Central Bank of Nigeria (CBN), the indicative exchange rate for the Naira increased slightly to N1,535 per dollar from N1,533 per dollar, reflecting a N2 depreciation.
As a result, the gap between the parallel market rate and the NFEM rate narrowed to N40 per dollar, compared to N52 per dollar on Monday.
