Photocredit:Google
The naira strengthened slightly in the parallel market yesterday, trading at ₦1,530 per dollar, up from ₦1,535 last Thursday.
However, it weakened in the Nigerian Foreign Exchange Market (NFEM), where it fell to ₦1,513 per dollar, compared to ₦1,511.5 the previous week, according to Central Bank of Nigeria (CBN) data.
This represents a depreciation of ₦1.5 in the official market. As a result, the gap between the parallel market and NFEM rates narrowed to ₦17 per dollar, down from ₦23.5 last Thursday.
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