The Naira strengthened to N1,725 per dollar in the parallel market yesterday, an improvement from N1,735 per dollar last Friday.
However, it weakened in the Nigerian Autonomous Foreign Exchange Market (NAFEM), depreciating to N1,676.9 per dollar.
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According to FMDQ data, the indicative exchange rate in NAFEM rose from N1,666.72 per dollar last weekend, marking a N10.18 decline for the Naira.
Dollar trading volume in the official market dropped by 15.6%, down to $79.47 million from $94.2 million traded the previous Friday.
As a result, the rate gap between the parallel market and NAFEM narrowed to N48.1 per dollar, from N68.28 per dollar last weekend.