The naira appreciated to N1,600 per dollar in the parallel market yesterday, up from N1,610 per dollar last weekend. Similarly, it strengthened slightly in the Nigerian Foreign Exchange Market (NFEM), trading at N1,605 per dollar. According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved to N1,605 per dollar from N1,606 per dollar last Friday, reflecting a N1 gain. As a result, the gap between the parallel market and NFEM rates widened to N5 per dollar, compared to N4 per dollar the previous weekend.