The naira weakened yesterday, falling to N1,610 per dollar in the parallel market, down from N1,605 on Tuesday. Likewise, in the Nigerian Foreign Exchange Market (NFEM), the naira depreciated to N1,612 per dollar. According to data from the Central Bank of Nigeria (CBN), the official exchange rate climbed from N1,609 per dollar on Tuesday, reflecting a N4 loss in value. As a result, the gap between the parallel market and NFEM rates narrowed to N3 per dollar, compared to N4 per dollar the previous day.