The naira appreciated on Wednesday, strengthening to N1,615 per dollar in the parallel market, up from N1,620 recorded on Tuesday.
In the Nigerian Foreign Exchange Market (NFEM), the local currency also firmed up, trading at N1,564 per dollar, according to data from the Central Bank of Nigeria (CBN). This marks a N15 gain from the previous rate of N1,579 per dollar.
As a result, the exchange rate gap between the official and parallel markets widened to N51, compared to N41 the previous day.
