Yesterday, the Naira rose to N1,730 per dollar on the parallel market, up from N1,725 on Wednesday.
However, the Naira fell to N1,675.49 per dollar in the Nigerian Autonomous Foreign Exchange Market, or NAFEM.
According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,675.49 per dollar from N1,631.17 per dollar on Wednesday, meaning that the naira depreciated by N44.32.
The volume of dollars traded (turnover) in the official market increased by 29% to $166.61 million from $128.98 million transacted on Wednesday.
As a result, the difference between the parallel market and NAFEM rates fell to N54.51 per dollar from N118.83 per dollar on Wednesday.
