The Naira fell to N1,365 per dollar in the parallel market Wednesday, down from N1,320 on Tuesday.
Similarly, the note fell to N1,402.67 per dollar on the Nigerian Foreign Exchange Market, or NAFEM.
According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,402.67 per dollar from N1,390.96 per dollar on Tuesday, meaning that it depreciated by N11.71.
Naira
As a result, the gap between parallel market and NAFEM rates shrank to N37.67 per dollar from N70.96 per dollar on Tuesday.
Source: vanguardngr.com
