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The Naira depreciated yesterday to N1,680 per dollar in the parallel market, down from N1,655 per dollar on Tuesday.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira weakened to N1,667.42 per dollar.
Read Also: How Nigeria Can Stabilise Exchange Rate, Strengthen Naira – Cardoso
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,667.42 per dollar, up from N1,658.48 per dollar on Tuesday, marking an N8.94 depreciation.
The volume of dollars traded in the official market also dropped by 39.6%, from $166.36 million on Tuesday to $100.47 million.
As a result, the margin between the parallel market and the NAFEM rate widened to N12.58 per dollar, compared to N3.48 per dollar on Tuesday.
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