The Naira dropped from N1,645 per dollar exchanged on Wednesday to N1,655 per dollar on the parallel market yesterday.
In a same vein, the Naira lost value on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, Wednesday, falling to N1,649.76 per dollar.
The indicative exchange rate for NAFEM increased to N1,649.76 per dollar from N1,558.75 per dollar on Wednesday, according to data from FMDQ, suggesting a N91.01 depreciation of the naira.
As a result, from N86.25 per dollar the day before, the difference between the parallel market and NAFEM rate shrank to N5.24 per dollar.
