In the parallel market, the value of the Naira dropped from N1,537 to N1,540 per dollar on Tuesday to N1,540 yesterday.  However, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira increased to N1,522 per dollar. 

According to information released by the Central Bank of Nigeria (CBN), the value of the naira appreciated by N3.45, from N1,525.45 to N1,522 per dollar on Tuesday.  

As a result, the gap between the NFEM rate and the parallel market increased from N11.55 to N18 per dollar on Tuesday.

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