The Naira strengthened to N1,465 per dollar in the parallel market today, improving from N1,470 per dollar recorded last weekend.
Likewise, the local currency appreciated in the Nigerian Foreign Exchange Market (NFEM), where it rose to N1,384.5 per dollar.
Figures released by the Central Bank of Nigeria (CBN) indicate that the indicative exchange rate declined to N1,384.5 per dollar from N1,391 per dollar at the close of last weekend, representing a N6.5 appreciation for the naira.
As a result, the gap between the parallel market rate and the official exchange rate expanded to N80.5 per dollar, compared with N79 per dollar on Thursday.