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Naira Falls Again In Parallel Market

Yesterday, the naira’s value in the parallel market decreased to N1,355 per dollar from N1,350 on Monday. However, it appreciated in the Nigerian Foreign Exchange Market (NAFEM) to N878.61 per dollar, as per data from FMDQ.

The indicative exchange rate for NAFEM dropped to N878.61 per dollar from N925.34 on Monday, reflecting a N46.73 appreciation for the naira.

The intraday high was N1336.05 per dollar, while the intraday low was N701 per dollar, indicating a margin of N635.05. The volume of dollars traded on the window decreased by 20% to $58.46 million from $73.33 million on Monday.

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