Yesterday, the Naira strengthened in the parallel market to N1,585 per dollar from N1,595 per dollar on Wednesday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also appreciated to N1,586.04 per dollar.
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According to FMDQ data, the indicative exchange rate for NAFEM dropped to N1,564.48 per dollar from N1,586.04 per dollar on Wednesday, reflecting a N21.56 appreciation of the Naira.
The volume of dollars traded in the market surged by 61.5 percent, reaching $149.24 million, up from $92.39 million the previous day.
As a result, the gap between the parallel market rate and the NAFEM rate widened to N20.52 per dollar, compared to N8.96 per dollar on Wednesday.
