The Naira’s value is fluctuating lately. Yesterday, it appreciated to N1,670 per dollar in the parallel market, which is a slight increase from N1,675 per dollar on Wednesday. This change reflects a 0.295% increase in the Naira’s value .
The Naira’s value is on the rise. It appreciated to N1,622.57 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) .
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,622.57 per dollar from N1,625.13 per dollar on Wednesday, indicating N2.56 appreciation for the naira.
The volume of dollars traded (turnover) in the official market declined by 14.6 percent to $145.56 million from $170.6 million traded on Wednesday
Consequently, the margin between the parallel market and NAFEM rate narrowed to N47.53 per dollar from N49.87 per dollar on Wednesday.
