The Naira appreciated in the parallel market on Tuesday, trading at N1,725 per dollar, up from N1,730 on Monday.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also strengthened, reaching N1,630.45 per dollar, a notable improvement from Monday’s rate of N1,670.65.
Data from FMDQ revealed a N40.2 gain in the exchange rate.
Dollar turnover in the official market saw a sharp increase, rising by 198.8% to $242.59 million from $81.17 million on Monday.
As a result, the gap between the parallel market rate and NAFEM widened to N94.55 per dollar, compared to N59.35 on Monday.
