The Naira appreciated yesterday to N1,560 per dollar in the parallel market, strengthening from N1,565 recorded on Thursday. Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira appreciated to N1,534 per dollar. According to data released by the Central Bank of Nigeria (CBN), the official exchange rate weakened slightly to N1,535.5 per dollar from N1,534 on Wednesday, reflecting a marginal depreciation of N1.5. As a result, the gap between the parallel market and NFEM rates narrowed to N24.5 per dollar, down from N31 the previous day. This week, the parallel market recorded a N30 depreciation in the exchange rate, in contrast to the 50 kobo gain observed last week. Meanwhile, the official market experienced no significant movement, with the naira neither appreciating nor depreciating over the course of the week.