The Nigerian currency, the naira, recorded a slight depreciation in both the parallel and official foreign exchange markets.
In the parallel market, the naira weakened to N1,410 per dollar, down from N1,405 per dollar recorded on Tuesday.
Similarly, in the Central Bank of Nigeria (CBN)-regulated Nigerian Foreign Exchange Market (NFEM), the currency also depreciated to N1,391 per dollar.
Data from the apex bank showed that the indicative exchange rate rose from N1,383.5 per dollar on Tuesday to N1,391 per dollar, indicating a depreciation of N7.5.
As a result, the gap between the parallel market and the official exchange rate narrowed to N19 per dollar, compared to N21.5 recorded the previous day.
