Yesterday, the Naira fell in the parallel market to N1,595 per dollar from N1,590 per dollar on Tuesday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also depreciated, reaching N1,586.04 per dollar, compared to N1,582.09 per dollar the previous day, marking a decrease of N3.95.
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According to FMDQ data, the indicative exchange rate for NAFEM rose to N1,586.04 per dollar from N1,582.09 per dollar on Tuesday.
Additionally, the volume of dollars traded in the market dropped by 54 percent, falling to $92.39 million from $201.43 million on Tuesday. This led to an increase in the gap between the parallel market rate and the NAFEM rate, which widened to N8.96 per dollar from N7.91 per dollar.
