Data from FMDQ indicates that the indicative exchange rate for NAFEM increased to N1,419.11.
By Johnson Atoukudu
Yesterday, the Naira experienced a depreciation to N1,340 per dollar in the parallel market, compared to N1,300 per dollar the previous Friday.
Similarly, in the Nigerian Foreign Exchange Market (NAFEM), the Naira depreciated to N1,419.11 per dollar.
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Data from FMDQ indicates that the indicative exchange rate for NAFEM increased to N1,419.11 per dollar from N1,339.23 per dollar over the weekend, reflecting a depreciation of N79.88 for the Naira.
Consequently, the margin between the parallel market and NAFEM rates widened to N79.11 per dollar from N39.23 per dollar last Friday.
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