The naira appreciated to N1,403 per dollar in the parallel market on Friday from N1,407 on Thursday, but depreciated to N1,337 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data from the Central Bank of Nigeria showed the indicative exchange rate weakened slightly to N1,337 per dollar from N1,336. The gap between the parallel and official markets narrowed to N66 per dollar from N71, and interbank turnover declined by 31.8 per cent to $130.7 million. On a weekly basis, the naira gained N12.99 against the dollar in the official market but weakened by N3 in the parallel market.
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