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Yesterday, the Naira dropped to N1,105 per dollar on the parallel market, down from N1,100 on Tuesday.
However, the nugeria note appreciated to N1,072.74 per dollar on the Nigerian Foreign Exchange Market, or NAFEM.
According to FMDQ data, the indicative exchange rate for NAFEM declined to N1,072.74 per dollar from N1,148.14 per dollar on Tuesday, implying a appreciation of N75.4.
Naira
As a result, the gap between parallel market and NAFEM rates has reduced to N32.26 per dollar, down from N48.14 on Tuesday.
Source: Vanguardngr.com
