The Naira yesterday depreciated to N1,603.8 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Data from FMDQ indicated that the indicative exchange rate for NAFEM increased to N1,603.8 per dollar from N1,586.71 per dollar on Wednesday, reflecting a depreciation of N37.95 for the naira.
The market turnover also fell by 23.3 percent, dropping to $131.09 million from $171.03 million on Wednesday.
Similarly, the Naira depreciated in the parallel market, falling to N1,580 per dollar from N1,575 per dollar on Wednesday.
As a result, the margin between the parallel market and NAFEM rate widened to N18.8 per dollar from N11.71 per dollar on Wednesday.