The Naira depreciated yesterday to N1,645 per dollar from N1,640 on Tuesday. However, it appreciated to N1,539.65 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to FMDQ data, the indicative exchange rate for NAFEM dropped to N1,539.65 per dollar from N1,656.49 on Tuesday, reflecting a N116.84 gain.
Dollar trading volume in the official market increased by 38.9%, rising from $100.39 million on Tuesday to $139.48 million.
As a result, the gap between the parallel market and NAFEM rates expanded to N105.35 per dollar, up from N16.49 on Tuesday.
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