Yesterday, the Naira appreciated to N1,680 per dollar in the parallel market, improving from N1,690 per dollar last weekend.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated to N1,552.92 per dollar.
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Data from FMDQ revealed that the indicative exchange rate for NAFEM dropped to N1,552.92 per dollar from N1,641.27 per dollar last weekend, reflecting an N88.35 gain for the Naira.
However, the volume of dollars traded in the official market (turnover) decreased by 44 percent, falling to $343.71 million from $616.73 million traded last Friday.
As a result, the gap between the parallel market and NAFEM rates widened to N127.08 per dollar, up from N48.73 per dollar last weekend.
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