Yesterday, the Naira depreciated to N1,610 per dollar in the parallel market, down from N1,600 per dollar on Monday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also fell to N1,592.06 per dollar, up from N1,579.22 per dollar the previous day. This represents a N12.84 depreciation.
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Additionally, the volume of dollars traded in NAFEM decreased by 6.5 percent, dropping to $152.26 million from $162.99 million on Monday.
As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N17.94 per dollar, compared to N20.78 per dollar the day before.
