The naira recorded a modest gain against the US dollar on Tuesday, strengthening in both the parallel and official foreign exchange markets.
In the parallel market, the currency appreciated to N1,385 per dollar, improving from N1,393 per dollar recorded on Monday.
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Similarly, at the official window, the naira also gained ground, trading at N1,337 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Figures from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate dropped to N1,337 per dollar, compared to N1,344 per dollar on Monday, reflecting a N7 appreciation.
As a result, the gap between the official and parallel market rates narrowed slightly to N48 per dollar, down from N49 per dollar the previous day.
