Yesterday, the Naira depreciated in the parallel market to N1,660 per dollar, down from N1,645 per dollar the previous Friday.
However, it strengthened to N1,580.46 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Data from FMDQ revealed that the indicative exchange rate for NAFEM dropped to N1,580.46 per dollar, compared to N1,593.32 per dollar last weekend, marking a N12.86 appreciation for the Naira.
Dollar turnover in the market fell by 22 percent, from $254.17 million last weekend to $197.37 million.
As a result, the gap between the parallel market and NAFEM rates widened to N79.54 per dollar, up from N51.68 per dollar the previous Friday.
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