In the parallel market yesterday, the value of the Naira increased from N1,520 to $1 on Monday to N1,518.
However, on the Nigerian Foreign Exchange Market (NFEM), the value of the Naira dropped to N1,493.2 per dollar.
The Central Bank of Nigeria, or CBN, released data suggesting that the naira depreciated by N1.8 to reach N1,493.2 per dollar from N1,491.4 per dollar on Wednesday.
As a result, the difference between the NFEM rate and the parallel market dropped from N28.6 to N24.8 per dollar on Monday.
