The Naira has recorded another depreciation in the parallel market, trading at N1,665 per dollar on Monday, compared to N1,660 per dollar over the weekend.
In contrast, the official foreign exchange market saw the Naira strengthen slightly, appreciating to N1,534.56 per dollar from N1,535 per dollar last Friday, according to data published by the Central Bank of Nigeria (CBN). This represents a marginal gain of 44 kobo in the official market.
As a result, the gap between the parallel market and the Nigerian Foreign Exchange Market (NFEM) widened to N130.44 per dollar from N125 per dollar last weekend.
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