The naira gained slightly yesterday, rising to N1,560 per dollar in the parallel market from N1,565 on Monday.
However, it weakened in the Nigerian Foreign Exchange Market (NFEM), falling to N1,530.5 per dollar compared to N1,529.5 previously, according to figures from the Central Bank of Nigeria (CBN).
This reflects a N1 drop in the official market rate.
As a result, the difference between the parallel market rate and the NFEM rate narrowed to N29.5 per dollar, down from N35.5 recorded the day before, showing reduced pressure between both markets despite mixed performance.
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