The naira yesterday weakened in the parallel market, sliding to N1,562 per dollar from N1,560 per dollar on Tuesday. However, it strengthened in the Nigerian Foreign Exchange Market (NFEM), appreciating to N1,520 per dollar after a two-day losing streak. According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved to N1,520 per dollar from N1,530.5 per dollar on Tuesday, marking a gain of N10.5. As a result, the gap between the parallel market rate and the NFEM rate widened to N42 per dollar, up from N29.5 per dollar the previous day.