The Naira yesterday appreciated to N1,525 per dollar in the parallel market, up from N1,530 per dollar recorded on Monday.
Similarly, the Naira strengthened to N1,506.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data released by the Central Bank of Nigeria (CBN) showed that the exchange rate of the Naira improved to N1,506.5 per dollar from N1,513 per dollar on Monday, reflecting an appreciation of N6.5 for the local currency.
Consequently, the gap between the parallel market and the NFEM exchange rate widened to N18.5 per dollar, compared to N17 per dollar on Monday.
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