The Naira strengthened yesterday, trading at N1,540 per dollar in the parallel market, up from N1,545 per dollar recorded last weekend. In the Nigerian Foreign Exchange Market (NFEM), the currency also appreciated to N1,527.5 per dollar, a level last seen on July 3 this year. According to data from the Central Bank of Nigeria (CBN), the exchange rate improved from N1,531 per dollar last weekend to N1,527.5 per dollar, reflecting a N3.5 gain for the Naira. As a result, the gap between the parallel market and NFEM exchange rates narrowed to N12.5 per dollar, down from N14 per dollar on Friday.