The naira appreciated to ₦1,600 per dollar in the parallel market on Monday, strengthening from ₦1,610 recorded over the weekend.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira saw a modest gain, trading at ₦1,605 per dollar.
According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved slightly from ₦1,606 per dollar last Friday to ₦1,605, marking a ₦1 gain.
As a result, the gap between the parallel market rate and the official NFEM rate widened slightly to ₦5, up from ₦4 over the weekend.
