The Naira depreciated to N1,585 per dollar in the parallel market yesterday, down from N1,580 per dollar last weekend. However, it strengthened to N1,533 per dollar in the Nigerian Foreign Exchange Market (NFEM). According to data from the Central Bank of Nigeria (CBN), the indicative exchange rate for the naira improved to N1,533 per dollar from N1,538 per dollar last Friday, marking a N5 appreciation. As a result, the gap between the parallel market and NFEM rates widened to N52 per dollar from N42 per dollar last weekend.