The naira yesterday depreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM), surpassing the parallel market rate by N2. According to data released by the Central Bank of Nigeria (CBN), the official exchange rate rose from N1,536 to N1,537 per dollar on Tuesday, reflecting a N1 loss in value. In contrast, the naira appreciated in the parallel market, strengthening to N1,535 per dollar, up from N1,555 per dollar the previous day — a notable N20 gain.