The Naira rose in the parallel market Friday to N1,480 per dollar, up from N1,540 per dollar on Thursday.
Similarly, it rose to N1,497.33 per dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM), outperforming the parallel market rate by N10.33.
According to FMDQ data, the indicative exchange rate for NAFEM declined to N1,497.33 per dollar from N1,533.99 per dollar on Thursday, representing a N54.66 appreciation in the naira.
The market saw an intraday high of N1,555 per dollar and an intraday low of N1,415 per dollar, for a margin of N140.
The volume of dollars exchanged (turnover) in NAFEM decreased 69.4 percent to $83.5 million, down from $272.86 million the day before.
Naira
As a result, the spread between parallel market and NAFEM rates increased to N10.33 per dollar from N6.01 per dollar on Thursday.
Source: vanguardngr.com
