The Naira on Tuesday, depreciated to N1,585 per United States dollar in the parallel market from N1,570 per dollar on Monday.
But the Naira appreciated to N1,527 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria (CBN), showed that the exchange rate for the naira fell to N1,527 per dollar from N1,532 per dollar on Monday, indicating N5 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate widened to N58 per dollar from N38 per dollar the previous day.
