The Naira rose to N1,755 per dollar in the parallel market Wednesday, up from N1,770 on Monday. Similarly, the Naira rose to N1,659.44 per dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to FMDQ data, the indicated exchange rate for NAFEM declined to N1,659.44 per dollar from N1,675.62 per dollar on Monday, indicating a naira appreciation of N16.18.
The dollar amount transacted (turnover) jumped by 219.5 percent, reaching $425.98 million, up from $108.79 million on Monday.
As a result, the difference between the parallel market and NAFEM rates fell to N95.56 per dollar from N117.38 per dollar on Monday.
