In yesterday’s Nigerian Autonomous Foreign Exchange Market (NAFEM), the value of the Naira decreased to N1,625.13 per US dollar.
According to data from FMDQ, the naira depreciated by N63.37 as the indicative exchange rate for NAFEM increased to N1,625.13 per dollar on Tuesday from N1,561.76 per dollar on Tuesday.
From Tuesday’s $253.68 million trade volume, the official market’s dollar turnover fell by 32.7 percent to $170.6 million. in Tuesday, the Naira was worth N1,685 per dollar, while in the parallel market, it was worth N1,675 per dollar.
As a result, on Tuesday, the difference between the NAFEM rate and parallel market was N49.87 per dollar, as opposed to N123.24.
