The Naira appreciated to N1,730 per dollar in the parallel market yesterday, up from N1,725 per dollar on Wednesday.
In contrast, the Naira depreciated to N1,675.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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Data from FMDQ revealed that the indicative exchange rate for NAFEM increased to N1,675.49 per dollar from N1,631.17 per dollar on Wednesday, reflecting a N44.32 depreciation of the Naira.
The volume of dollars traded in the official market rose by 29 percent, reaching $166.61 million compared to $128.98 million on Wednesday.
As a result, the gap between the parallel market and NAFEM rate narrowed to N54.51 per dollar from N118.83 per dollar on Wednesday.