Yesterday, the Naira depreciated slightly to N1,745 per dollar in the parallel market, compared to N1,740 per dollar on Wednesday.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated to N1,658.67 per dollar, showing a N28.85 gain from the previous day’s rate of N1,687.52 per dollar, according to data from FMDQ.
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The volume of dollars traded also declined by 5.5%, falling to $163.66 million from $173.29 million on Wednesday.
As a result, the gap between the parallel market and NAFEM exchange rates widened to N86.33 per dollar, up from N52.48 per dollar the day before.
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