- Naira appreciates to N1,680/$ in parallel market (from N1,690/$).
- Naira appreciates to N1,552.92/$ in NAFEM (from N1,641.27/$).
- Naira gains N88.35 against dollar in NAFEM.
- Dollar turnover in official market declines by 44% to $343.71 million.
- Margin between parallel market and NAFEM rate widens to N127.08/$ (from N48.73/$).
The Naira, yesterday, appreciated to N1,680 per dollar in the parallel market from N1,690 per dollar last weekend.
Similarly, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,552.92 per dollar from N1,641.27 per dollar last weekend, indicating N88.35 appreciation for the Naira.
The volume of dollars traded (turnover) in the official market declined by 44 per cent to $343.71 million from $616.73 million traded last Friday.
Consequently, the margin between the parallel market and NAFEM rate widened to N127.08 per dollar from N48.73 per dollar last weekend
