In the parallel market, the value of the Naira increased from N1,650 per dollar on Thursday to N1,640 per dollar on Friday.
In a similar vein, the value of the Naira increased 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 increased 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.
