The Nigerian Naira (NGN) has appreciated its value in the parallel market, rising to N1,555 per dollar on Monday, up from N1,570 per dollar last week Friday.
On the other hand, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated slightly to N1,512 per dollar from N1,511 per dollar over the weekend.
Data from the Central Bank of Nigeria (CBN) showed that the spread between the parallel market and NFEM exchange rates shrank to N43 per dollar, compared to N59 per dollar the previous week.
