According to data from FMDQ, the indicative exchange rate for NAFEM decreased to N1,600 per dollar, down from N1,601.2 on Thursday, reflecting a N1.2 appreciation for the Naira.
Additionally, the volume of dollars traded in the official market surged by 23 percent, reaching $284.93 million compared to $230.99 million the previous day.
As a result, the gap between the parallel market and the NAFEM rate widened to N140 per dollar, up from N137.8 per dollar on Thursday
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