The naira appreciated to N1,600 per dollar in the parallel market yesterday, strengthening from N1,605 per dollar recorded last week. Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira rose to N1,540 per dollar. Since May 29th, the naira has continued on an upward trajectory, gaining a total of N47 against the dollar in the official market. According to data released by the Central Bank of Nigeria (CBN), the official exchange rate improved to N1,540 per dollar from N1,551 per dollar last Thursday, reflecting an N11 appreciation. As a result, the gap between the parallel market and NFEM rates widened to N60 per dollar, up from N54 the previous day.