The Naira strengthened to N1,700 per dollar in the parallel market yesterday, improving from N1,705 per dollar recorded on Monday.
Conversely, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira weakened, reaching N1,669.15 per dollar.
According to FMDQ data, the indicative exchange rate for NAFEM dropped to N1,669.15 per dollar, compared to N1,541.94 per dollar on Monday, representing a N127.2 depreciation.
In the official market, dollar trading volume decreased by 2.97 percent to $176.45 million, down from $181.86 million on Monday. As a result, the gap between the parallel market and NAFEM rates reduced to N30.85 per dollar, down from N163.06 on Monday.
