The naira closed the week with a slight boost, appreciating to ₦1,560/$ in the parallel market on Friday — up from ₦1,565/$ the previous day. At the official Nigerian Foreign Exchange Market (NFEM), the currency also saw a gain, ending the day at ₦1,534/$.
However, CBN data showed a mild slip in the official rate, which rose to ₦1,535.5/$, signaling a minor depreciation of ₦1.5. Still, the gap between black market and official rates narrowed to ₦24.5 — a notable improvement from Thursday’s ₦31.
Despite a ₦30 drop overall in the parallel market this week, it reflects better stability compared to last week’s marginal 50 kobo gain. Meanwhile, the official rate stayed mostly flat throughout.
