The Naira appreciated yesterday in the parallel market, moving from N1,480 per dollar last weekend to N1,475 per dollar.

Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira strengthened to N1,468.99 per dollar.

Data from FMDQ indicated that the indicative exchange rate for NAFEM fell to N1,468.99 per dollar from N1,497.33 per dollar last Friday, showing a N28.34 appreciation for the Naira.

As a result, the gap between the parallel market and NAFEM rates narrowed to N6.01 per dollar from N10.33 per dollar last weekend.