Yesterday, the Naira appreciated to N1,700 per dollar in the parallel market, up from N1,705 per dollar on Monday.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira depreciated to N1,669.15 per dollar.
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Data from FMDQ revealed that the indicative exchange rate for NAFEM dropped to N1,669.15 per dollar from N1,541.94 per dollar on Monday, reflecting an appreciation of N127.2 for the Naira.
In the official market, the turnover of dollars traded fell by 2.97 percent, totaling $176.45 million compared to $181.86 million on Monday. As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N30.85 per dollar from N163.06 per dollar on Monday.
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