Naira appreciates to N1,730/$ in parallel market
In the parallel market, the value of the Naira increased from N1,740 to N1,730 per dollar on Wednesday to N1,730 yesterday.
However, in the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira fell to N1,650.2 per dollar.
The indicative exchange rate for NAFEM increased to N1,650.2 per dollar from N1,645.4 per dollar on Wednesday, according to data from FMDQ, indicating an N4.8 devaluation for the naira.
The market's turnover, or the amount of money exchanged, fell 9.33% to $214.73 million from $236.84 million sold on Wednesday.
As a result, the difference between NAFEM and parallel market rates decreased from N94.6 to N79.8 per dollar on Wednesday.
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