In the parallel market, the value of the Naira fell yesterday, from N1,495 per dollar on Wednesday to N1,515 per dollar.
Similarly, on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira fell to N1,485.66 per dollar.
The indicative exchange rate for NAFEM increased to N1,485.66 per dollar from N1,462.59 per dollar on Wednesday, according to data from FMDQ, indicating a N23.07 depreciation of the naira.
With a bearing of N109 per dollar, the market recorded an intraday high of N1,510 per dollar and an intraday low of N1,401 per dollar.
Turnover, or the amount of dollars traded, rose from $123.45 million on Wednesday to $167.55 million, a 35.7 percent increase.
As a result, the difference in rates between the parallel market and NAFEM dropped from N33.59 to N29.34 per dollar.
