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On Wednesday, the Naira fell in the parallel market to N1,620 per dollar from N1,615 per dollar the previous day.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also depreciated to N1,606.56 per dollar from N1,594.27 per dollar on Tuesday, reflecting a N12.32 drop.
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According to FMDQ data, the indicative NAFEM rate increased to N1,606.59 per dollar. The volume of dollars traded in NAFEM rose by 2.5% to $160.94 million, up from $156.94 million on Tuesday.
As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N13.41 per dollar, compared to N20.73 per dollar the day before.
