In the parallel market, the Naira fell from N1,650 per dollar to N1,640 per dollar yesterday. $1 this Thursday. In a similar vein, the value of the Naira declined on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, to N1,541.52 per dollar.
The indicated exchange rate for NAFEM dropped to N1,541.52 per dollar from N1,544.02 per dollar on Thursday, according to data from FMDQ, indicating a N2.5 appreciation for the naira.
From $87.51 million transacted on Thursday, the amount of dollars moved (turnover) in the official market fell by 117.7% to $190.57 million.
As a result, on Thursday, the difference between the NAFEM rate and the parallel market dropped from N105.98 to N98.48 per dollar.
