Yesterday, the Naira depreciated in the parallel market to N1,635 per dollar from N1,625 per dollar last weekend.
In contrast, the Naira appreciated to N1,585.77 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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According to data from FMDQ, the indicative exchange rate for NAFEM improved from N1,598.56 per dollar last weekend, reflecting a N12.79 gain for the Naira.
However, the volume of dollars traded in the market decreased by 58.8 percent, falling to $71.18 million from $172.8 million the previous Friday.
As a result, the gap between the parallel market rate and the NAFEM rate widened to N49.23 per dollar, up from N26.44 per dollar last weekend.
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