Yesterday, the Naira weakened in the parallel market, trading at N1,478 per dollar, up from N1,475 per dollar on Tuesday.
Conversely, the naira strengthened slightly in the Nigerian Foreign Exchange Market (NFEM), appreciating to N1,451 per dollar from N1,452 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN), reflecting a N1 gain.
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Naira appreciates to N1,475/$ in parallel market
The divergence between the two markets caused the gap between the parallel and official rates to widen to N27 per dollar, up from N23 per dollar on Tuesday.
