The Naira experienced a slight appreciation in the parallel market, trading at N1,660 per United States dollar on Friday, compared to N1,665 per dollar the previous day.
In the official foreign exchange market, the local currency also gained strength, rising to N1,531 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the exchange rate in the Nigerian Foreign Exchange Market (NFEM) dropped to N1,531 per dollar from N1,548 on Thursday, reflecting a N17 appreciation for the Naira.
As a result, the gap between the parallel market rate and the NFEM rate widened, increasing to N129 per dollar from N117 per dollar recorded on Thursday.
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