The Naira, on Wednesday, depreciated to N1,560 per dollar in the parallel market, down from N1,555 per dollar the previous day.
However, it showed signs of strength in the Nigerian Foreign Exchange Market, where it appreciated to N1,535.4 per dollar.
According to data published by the Central Bank of Nigeria, the exchange rate improved from N1,536.8 per dollar on Tuesday to N1,535.4 per dollar, marking a N1.4 gain for the Naira.
As a result, the gap between the parallel market rate and the NFEM rate expanded to N24.6 per dollar, compared to N18.2 per dollar on Tuesday.
