The Nigerian Naira ended the year with an appreciation to N907.11 per dollar in the Foreign Exchange market, marking a 13% gain or a N135.89 increase, according to FMDQ data.
Throughout the day, the exchange rate fluctuated between a high of N1,224 per dollar and a low of N700 per dollar, resulting in a margin of N524 per dollar.
Trading volume on the window increased by seven percent to $89.3 million from Thursday’s $83.63 million. However, in the parallel market, the Naira depreciated to N1,215 per dollar from N1,210 per dollar on Thursday.
This led to a widening gap between the official and parallel market rates, reaching N307.89 per dollar compared to Thursday’s N166.91.
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