Naira depreciated to N1,740 per dollar in the parallel market from N1,735 per dollar.
- Similarly, the Naira appreciated to N1,645.4 per dollar in the Nigerian Autonomous Foreign Exchange Market.
- Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,645.4 per dollar from N1,689.88 per dollar on Tuesday, indicating a N44.48 appreciation for the Naira.
- The volume of dollars traded (turnover) in the market rose by 122.5 percent to $236.84 million from $106.44 million sold on Tuesday.
- Consequently, the margin between the parallel market and NAFEM rate widened to N94.6 per dollar from N45.12 per dollar on Tuesday.
