In the parallel market, the Naira fell to N1,515 per dollar yesterday, down from N1,495 on Wednesday.
Similarly, the Naira dropped to N1,485.66 per dollar in the Nigeria Autonomous Foreign Exchange Market, NAFEM.
According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,485.66 per dollar from N1,462.59 per dollar on Wednesday, indicating it devaluation of N23.07 percent.
The market hit an intraday high of N1,510 per dollar and a low of N1,401 per dollar, for a bearing of N109 per dollar.
The volume of dollars transacted (turnover) jumped by 35.7% to $167.55 million from $123.45 million on Wednesday.
Naira
As a result, the gap between parallel market and NAFEM rates has reduced to N29.34 per dollar, down from N33.59 on Wednesday.
Source: guardian.ng
