The Naira strengthened to N1,512 per dollar in the parallel market yesterday, up from N1,515 per dollar on Tuesday. However, it weakened in the Nigerian Foreign Exchange Market (NFEM), depreciating to N1,505 per dollar. Data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate rose to N1,505 per dollar from N1,502 per dollar on Tuesday, reflecting a N3 decline. As a result, the gap between the parallel market and NFEM rates narrowed to N7 per dollar from N13 per dollar on Tuesday.