In the parallel market, the value of the naira dropped from N1,625 to N1,625 per dollar on Tuesday to N1,635 yesterday.  From the start of this month till now, the Naira has depreciated by 1.8%, or N29, on the parallel market.  

However, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira increased to N1,596 per dollar.  

According to data released by the Central Bank of Nigeria (CBN), the value of the naira appreciated by N3.8, from N1,599.8 to N1,596 per dollar on Tuesday — the previous exchange rate.  

As a result, the difference between the NFEM rate and the parallel market grew from N25.2 to N39 per dollar on Tuesday.

Source