The Naira yesterday depreciated to N1,565 per dollar in the parallel market from N1,555 per dollar on Monday. But the naira appreciated to N1,533.5 per dollar in the Nigerian Foreign Exchange Market NFEM.
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,533.5 per dollar from N1,533.8 per dollar on Monday, indicating 30 kobo appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N31.5 per dollar from N21.2 per dollar on Monday.