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On Thursday, the Naira appreciated in the parallel market to N1,600 per dollar, up from N1,615 per dollar on Wednesday.
Conversely, the Naira depreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), falling to N1,586.11 per dollar from N1,543.84 per dollar the previous day. This represents a depreciation of N42.27.
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Trading volume in NAFEM decreased by 30 percent, with turnover dropping to $120.2 million from $171.79 million on Wednesday.
As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N13.89 per dollar, down from N71.16 per dollar the day before.
