Yessterday, the Naira strengthened to N1,580 per dollar in the parallel market, up from N1,595 per dollar on Wednesday.
Similarly, the Naira appreciated to N1,570 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday.
According to data from FMDQ, the indicative exchange rate for NAFEM dropped from N1,608.73 per dollar on Wednesday, reflecting a N38.73 gain for the Naira.
The volume of dollars traded in the market increased by 47 percent to $142.32 million, up from $270.81 million the previous day. As a result, the gap between the parallel market and NAFEM rate narrowed to N10 per dollar from N13.73 per dollar on Wednesday.
