The naira traded at: - Official NFEM rate: ~₦1,384/$ - Parallel market buying rate: ~₦1,408/$ - Parallel market selling rate: ~₦1,420/$ The gap between official and parallel markets remains narrow, reflecting improved liquidity and ongoing monetary reforms. Analysts say the narrowing gap between official and parallel market rates is due to sustained liquidity injections and tighter forex monitoring by the Central Bank. Oil revenue inflows have also provided temporary relief, stabilizing reserves. However, traders warn that inflation pressures and global commodity price shifts could test the Naira’s resilience in the coming weeks. Importers and exporters are adjusting pricing strategies to hedge against volatility. ➡️ Return to Main Bulletin