The Naira appreciated to ₦1,560 per dollar in the parallel market by the close of trading on Friday, improving from ₦1,565 per dollar the previous day.
In the Nigerian Foreign Exchange Market (NFEM), the Naira also gained, closing at ₦1,534 per dollar.
However, data from the Central Bank of Nigeria (CBN) showed a slight depreciation in the official exchange rate, which rose to ₦1,535.5 per dollar from ₦1,534 on Wednesday — a drop of ₦1.5.
With these shifts, the gap between the parallel market and NFEM narrowed to ₦24.5 per dollar, down from ₦31 on Thursday.
Over the week, the parallel market saw a total depreciation of ₦30, compared to a marginal 50 kobo gain the previous week. Meanwhile, the official market remained relatively stable with no major changes in the Naira’s value.