The Naira rose to N1,512 per dollar in the parallel market yesterday, up from N1,515 on Tuesday.
However, the Nigerian Foreign Exchange Market (NFEM) saw the naira fall to N1,505 per dollar.
According to data issued by the Central Bank of Nigeria, the naira’s indicative exchange rate increased to N1,505 per dollar from N1,502 per dollar on Tuesday, suggesting a N3 depreciation.
As a result, the spread between the parallel market and the NFEM rate fell to N7 per dollar from N13 per dollar on Tuesday.
