The Naira yesterday appreciated to N1,585 per dollar in the parallel market from N1,600 per dollar on Monday.
Similarly, the Naira yesterday appreciated to N1,601 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,601 per dollar from N1,607.15 per dollar on Monday, indicating a N6.15 rise for the naira.
The volume of dollars traded in the market declined by 19.7 per cent to $61.9 million from $77.09 million traded on Monday.
Consequently, the margin between the parallel market and the NAFEM rate widened to N16 per dollar from N7.15 per dollar on Monday.
