The naira strengthened in the parallel market today, rising to ₦1,565 per dollar from ₦1,570 per dollar on Thursday. In the Nigerian Foreign Exchange Market (NFEM), the currency also appreciated to ₦1,534.9 per dollar. Data from the Central Bank of Nigeria (CBN) showed the official rate edged up from ₦1,535 per dollar on Thursday, reflecting a one-kobo gain. As a result, the gap between the parallel market and NFEM rates narrowed to ₦30.1 per dollar from ₦35 per dollar the previous day. Over the course of the week, however, the naira still recorded a depreciation of ₦1.1 in the official market and ₦10 in the parallel market against the U.S. dollar.