The Nigerian naira strengthened yesterday, trading at N1,615 to the US dollar in the parallel market, up from N1,620 recorded on Tuesday.
In the official Nigerian Foreign Exchange Market (NFEM), the naira also gained, closing at N1,564 per dollar.
Data from the Central Bank of Nigeria (CBN) revealed that the naira improved by N15 against the dollar, moving from N1,579 per dollar on Tuesday to N1,564 per dollar.
Consequently, the difference between the parallel market rate and the NFEM rate widened to N51 per dollar, increasing from N41 per dollar a day earlier.