The Naira strengthened to N1,590 per dollar in the parallel market yesterday, up from N1,600 per dollar last weekend. However, it weakened to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM). According to data from the Central Bank of Nigeria (CBN), the indicative exchange rate rose to N1,549 per dollar from N1,548 per dollar last Friday, reflecting a N1 depreciation. As a result, the gap between the parallel market and NFEM rates narrowed to N41 per dollar from N52 per dollar last weekend.