On Friday, the Naira depreciated in the parallel market, falling to N1,700 per dollar from N1,675 the previous day.
However, it appreciated to N1,540.78 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), as data from FMDQ revealed the indicative exchange rate dropped from N1,576.1 to N1,540.78 per dollar, reflecting a N35.32 gain.
Dollar turnover in the official market decreased by 36.4%, falling to $212.31 million from Thursday’s $334.05 million. As a result, the gap between the parallel market and NAFEM rates widened to N159.22 per dollar, compared to N98.9 the day before.
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