The Naira depreciated N1,585 per dollar in the parallel market on Tuesday, below N1,570 per dollar on Monday.
However, N1,527 was thanked per dollar in the Nigerian currency market (NFEM) of N1,532 per dollar on Monday, which shows an appreciation of N5.
Also read: Naira appreciates, operations N1,590/$ in the parallel market
This has expanded the margin between the parallel market and the NFEM rate to N58 per dollar from N38 per dollar the previous day.
According to the Central Bank of Nigeria (CBN), the value of the Naira improved in the official market, closing N1,532 per dollar on Monday, which is its highest level in three months.
The Naira assured an appreciation of the N60 against the dollar in the parallel market in June and the appreciation of N53 in the official market.
The intervention of the CBN in the market, which sells approximately $ 86.6 million last week, has helped relieve demand pressure and has contributed to Naira's appreciation in official and unofficial currency markets..