The Naira weakened yesterday, falling to N1,620 per dollar in the parallel market, down from N1,615 per dollar on Monday. Similarly, it depreciated to N1,590 per dollar in the Nigerian Foreign Exchange Market (NFEM). According to data from the Central Bank of Nigeria (CBN), the official exchange rate rose to N1,590 per dollar from Monday’s N1,583, marking a N7 depreciation. As a result, the gap between the parallel market and NFEM rates narrowed to N30 per dollar, compared to N32 on Monday.