On Monday, the Naira appreciated in the parallel market, rising to N1,590 per dollar from N1,600 per dollar over the weekend.
In contrast, the Naira depreciated to N1,528.03 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data from the Central Bank of Nigeria (CBN) revealed that the indicative exchange rate for the Naira increased to N1,528.03 per dollar, up from N1,517.93 per dollar last Friday, marking an N11 decline in value for the Naira.
As a result, the gap between the parallel market rate and the NFEM rate narrowed to N72 per dollar, down from N73 per dollar over the weekend.
