In the parallel market, the value of the Naira dropped from N1,540 to N1,550 per dollar on Monday to N1,550 yesterday.  Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira fell to N1,537 per dollar.  

According to data released by the Central Bank of Nigeria (CBN), the value of the naira depreciated by one kobo, rising from N1,536.99 to N1,537 per dollar on Monday.  

As a result, the difference between the NFEM rate and the parallel market grew from N3.01 to N13 per dollar on Monday.

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