The naira strengthened against the United States dollar on Tuesday, appreciating to ₦1,393 per dollar in the parallel market from ₦1,405 recorded on Monday.
The local currency also posted gains at the Nigerian Foreign Exchange Market (NFEM), where it traded at ₦1,373 per dollar.
Figures released by the Central Bank of Nigeria showed that the indicative exchange rate improved from ₦1,375 per dollar on Monday, reflecting a ₦2 appreciation for the naira at the official market window.
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As a result, the gap between the parallel market and the official market narrowed to ₦20 per dollar, compared to ₦30 recorded earlier in the week.
Meanwhile, activity at the interbank foreign exchange market increased, with turnover rising by 4.6 per cent to $74.5 million from $71.2 million recorded on Monday.
