The Naira yesterday to N1,320 per dollar in the parallel market, up from N1,340 per dollar on Monday.
In the Nigerian Foreign Exchange Market (NAFEM), the Naira also saw an appreciation, reaching N1,390.96 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,390.96 per dollar from N1,419.11 per dollar on Monday, marking a N28.15 gain for the naira. The market experienced an intraday high of N1,450 per dollar and a low of N1,200 per dollar, creating a N250 per dollar fluctuation.
Dollar trading volume in the market surged by 52.4 percent to $225.36 million from $147.83 million on Monday. As a result, the gap between the parallel market and NAFEM rates narrowed to N70.96 per dollar from N79.11 per dollar on Monday.