The naira rose to N1,555 per dollar in the parallel market Tuesday, up from N1,570 per dollar last Friday.
However, the Naira fell to N1,512 per dollar on the Nigerian Foreign Exchange Market (NFEM). According to data issued by the Central Bank of Nigeria (CBN), the indicative exchange rate for the Naira increased to N1,512 per dollar in NFEM from N1,511 per dollar last weekend, meaning that the naira declined by N1.
As a result, the difference between the parallel market and the NFEM rate has decreased to N43 per dollar, down from N59 per dollar last Friday.
