The naira yesterday strengthened in the parallel market, appreciating to N1,570 per dollar from N1,580 per dollar on Wednesday. In contrast, it recorded its first loss in the Nigerian Foreign Exchange Market (NFEM) after a week-long rally, slipping to N1,525 per dollar. According to data released by the Central Bank of Nigeria (CBN), the official exchange rate weakened further to N1,527.5 per dollar from N1,525 per dollar on Wednesday, reflecting a depreciation of N2.5. As a result, the gap between the parallel market rate and the NFEM rate narrowed to N42.5 per dollar, compared to N55 per dollar the previous day.