The naira appreciated to N1,488 per dollar at the parallel market on Wednesday, improving from N1,490 per dollar recorded on Tuesday.
However, the local currency weakened at the Nigerian Foreign Exchange Market (NFEM), where it depreciated to N1,423 per dollar.
Data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate rose from N1,420 per dollar on Tuesday to N1,423 per dollar, representing a N3 depreciation at the official window.
As a result of the mixed movement, the margin between the parallel market rate and the official exchange rate narrowed to N65 per dollar, down from N70 per dollar recorded the previous day.
