Naira strengthens slightly at official market, weakens at parallel market
The naira recorded mixed performance on Tuesday, appreciating slightly at the official exchange market while weakening in the parallel market.
In the parallel market, the naira depreciated to ₦1,620 per dollar, down from ₦1,610 on Monday, marking a ₦10 drop in value.
Conversely, data from the Central Bank of Nigeria (CBN) showed the naira strengthened marginally in the Nigerian Foreign Exchange Market (NFEM), appreciating to ₦1,579 per dollar compared to ₦1,580 the previous day—reflecting a ₦1 gain.
As a result, the gap between the official and parallel market rates widened to ₦41 per dollar, up from ₦30 the previous day.
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