In the parallel market, the Naira increased from N1,487 per dollar on Tuesday to N1,483 per dollar yesterday.  In a similar vein, in the Nigerian Foreign Exchange Market (NFEM), the naira increased to N1,445 per dollar.  

Data issued by the Central Bank of Nigeria, CBN, revealed that the exchange rate for the naira declined to N1,445 per dollar from N1,447 per dollar on Tuesday, suggesting N2 appreciation for the currency.  

As a result, the difference between the NFEM rate and the parallel market shrank from N40 per dollar on Tuesday to N38 per dollar.

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