The naira appreciated to N1,620 per dollar in the parallel market yesterday, up from N1,625 per dollar on Monday. However, it depreciated in the Nigerian Foreign Exchange Market (NFEM), weakening to N1,598.69 per dollar. According to data from FMDQ, the naira's exchange rate in the NFEM slightly declined from N1,597 per dollar on Monday, marking a depreciation of N1.69. As a result, the gap between the parallel market and NFEM rates narrowed to N21.31 per dollar, down from N28 per dollar on Monday.