The naira posted a slight gain in the parallel market yesterday, trading at N1,470 per dollar compared with N1,475 recorded on Wednesday.
However, the currency weakened in the Nigerian Foreign Exchange Market (NFEM), where it closed at N1,459.95 per dollar. This represents a depreciation from N1,451 per dollar the previous day, according to data released by the Central Bank of Nigeria.
The movement reflects an N8.95 loss for the naira at the official window.
With these shifts, the gap between the parallel market rate and the NFEM rate narrowed significantly to N10.05 per dollar, down from N26 recorded on Wednesday.
