In the parallel market, the Naira increased from N1,396 per dollar on Tuesday to N1,392 per dollar yesterday.

In the Nigerian Foreign Exchange Market, or NFEM, the naira also increased to N1,369 per dollar.

The indicative exchange rate for the naira decreased to N1,369 per dollar from N1,389 per dollar on Tuesday, according to data from the Central Bank of Nigeria (CBN), indicating the currency's N20 appreciation. 

As a result, the difference between the official and alternative markets increased from N5 to N23 per dollar on Tuesday.

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