The Naira weakened to N1,670 per dollar in the parallel market yesterday, down from N1,660 per dollar on Tuesday.
In the official foreign exchange market, the Naira also depreciated to N1,550 per dollar.
According to data from the Central Bank of Nigeria (CBN), the exchange rate in the Nigerian Foreign Exchange Market (NFEM) rose to N1,550 per dollar, up from N1,549 on Tuesday, reflecting a N1 depreciation.
As a result, the gap between the parallel market and NFEM exchange rates increased to N120 per dollar, compared to N111 on Tuesday.
