In the parallel market, the value of the naira dropped from N1,540 to N1,555 per dollar on Monday to N1,555 yesterday.  Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira fell to N1,536 per dollar.  

According to data released by the Central Bank of Nigeria (CBN), the naira depreciated by N1 as the exchange rate increased from N1,535 to N1,536 per dollar on Monday to N1,536 per dollar.  

As a result, the difference between the NFEM rate and the parallel market grew from N5 to N19 per dollar the day before.

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