Yesterday, the Naira strengthened in the parallel market from N1,595 per dollar on Wednesday to to N1,590 per dollar on Thursday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also appreciated to N1,596.52 per dollar from N1,595 per dollar.
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Data from FMDQ revealed that the indicative exchange rate for NAFEM decreased to N1,593.62 per dollar from N1,596.52 per dollar on Wednesday, reflecting a N2.90 appreciation for the Naira.
Trading volume in the market rose by 51 percent to $141.99 million, compared to $93.92 million traded on Wednesday. As a result, the margin between the parallel market rate and the NAFEM rate widened to N3.52 per dollar from N1.52 per dollar on Wednesday.
