The Naira weakened to N1,745 per dollar in the parallel market today, down from N1,740 on Thursday. Similarly, it depreciated to N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to FMDQ data, the indicative exchange rate for NAFEM climbed to N1,672.69 per dollar, compared to N1,644.86 on Thursday, reflecting a depreciation of N27.83.
Dollar trading volume rose by 54.6% to $254.1 million, up from $560.34 million on Thursday.
As a result, the margin between the parallel market and NAFEM rates narrowed to N72.31 per dollar, down from N95.14 on Thursday.
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