In the parallel market yesterday, the value of the Naira increased from N1,560 per dollar on Wednesday to N1,550 per dollar.
In a similar vein, the value of the Naira increased on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, to N1,554.55 per dollar.
The indicated exchange rate for NAFEM dropped from N1,561.98 per dollar on Wednesday to N1,554.55 per dollar, according to data from FMDQ, indicating a N7.43 appreciation for the naira.
From $236.7 million on Wednesday, the amount of dollars (turnover) exchanged on the window increased by 47.4% to $348.82 million. As a result, on Wednesday, the difference between the NAFEM rates and the parallel market was N1.98 per dollar, but on Thursday it was N54.55.
