The Naira’s value is looking up. On Friday, it appreciated to N1,665 per dollar in the parallel market, strengthening from N1,685 per dollar on Thursday.
The Naira’s on the rise. It appreciated to N1,631.21 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), a N28.05 improvement from Thursday’s rate of N1,659.26 per dollar.
The Naira’s been on a roll lately. Data from FMDQ shows the indicative exchange rate for NAFEM dropped to N1,631.21 per dollar, indicating a stronger Naira. However, the volume of dollars traded in the official market took a hit, declining by 47% to $238.36 million, down from $450.39 million on Thursday. This decrease led to a wider gap between the parallel market rate and the NAFEM rate, now at N33.79 per dollar, up from N25.74 per dollar on Thursday.
