The Naira appreciated to N1,560 per dollar in the parallel market yesterday, up from N1,570 per dollar on Wednesday. However, it depreciated to N1,540 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 rose to N1,540 per dollar from N1,539 per dollar on Wednesday, reflecting a N1 depreciation. As a result, the gap between the parallel market and NFEM rates narrowed to N20 per dollar, down from N31 per dollar on Wednesday.