Today, the Naira depreciated in the parallel market, falling to N1,740 per dollar from N1,739 per dollar on Thursday.
Conversely, it appreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), rising to N1,601.2 per dollar.
Read Also: Naira Appreciates By 0.07% Against Dollar At Official Market
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
