Yesterday, the Naira fell to N1,650 per dollar in the parallel market, down from N1,645 per dollar on Wednesday.
In a similar vein, the Naira declined to N1,544.02 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Data from FMDQ revealed that the indicative exchange rate for NAFEM increased to N1,544.02 per dollar from N1,539.65 per dollar on Wednesday, marking a depreciation of N4.37 for the Naira. Additionally, the volume of dollars traded in the official market dropped by 37.2 percent, falling to $87.51 million from $139.48 million on Wednesday.
As a result, the gap between the parallel market rate and the NAFEM rate widened to N105.98 per dollar, up from N105.35 per dollar on Wednesday.
