The trading volume in the market fell by 34.9 percent to $122.31 million from $187.82 million last Friday.
By Johnson Atoukudu
Yesterday, the Naira appreciated in the parallel market to N1,510 per dollar, up from N1,515 per dollar last Friday. However, it depreciated to N1,508.99 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Data from FMDQ indicated that the indicative exchange rate for NAFEM decreased to N1,508.99 per dollar from N1,505.3 per dollar last weekend, representing a N3.69 depreciation for the Naira.
The trading volume in the market fell by 34.9 percent to $122.31 million from $187.82 million last Friday.
As a result, the margin between the parallel market and NAFEM rates narrowed to N1.01 per dollar from N9.7 per dollar last weekend.
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