The Nigerian naira surged in the parallel market following the central bank’s warning against currency speculation. The unofficial rate stood at 810 naira per USD, a 15% rise from Monday’s 950 per USD. The discrepancy between the official and unofficial rates has dwindled to 4% from 20% the previous week. Since the bank’s decision in June to allow a more flexible trade, the naira has been declining. The bank’s recent interventions have not significantly impacted supply in the official window, leading to increased demand in the unauthorized market.