The Nigerian currency has appreciated further against the Dollar at the parallel foreign exchange market.

This comes as the Naira saw the biggest gain against the dollar at the black market on Thursday on a week-on-week basis.

A Bureau de Change Operator in Wuse Zone, Abuja, disclosed that the Naira strengthened to N1570 per dollar on Thursday from N1590 per dollar traded on Wednesday.

This indicates that N20 was gained on a day-to-day basis.

The gain marks the highest appreciation since the start of trade this week.

At the official market however, the Naira fell to N1,500.65 per dollar on Thursday from N1,499.76 exchanged the previous day.

Also, after Thursday’s trading across FX markets, the Naira firmed up by 20 and dropped N0.89 at the black and official markets, respectively.

In the past days, the gap between official and parallel FX markets has been shrinking.

The development comes as the Central Bank of Nigeria on Wednesday strengthened oversight on BDC operators in the country.