From N1,480 per dollar on Monday, the Naira strengthened to N1,475 per dollar in the parallel market yesterday.
However, on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira decreased to N1,476.95 per US dollar.
The indicative exchange rate for NAFEM increased marginally to N1,476.95 per dollar from N1,476.12 per dollar on Monday, according to data from FMDQ, indicating an 83 kobo depreciation of the naira.
From $121.87 million on Monday, the amount of dollars (turnover) traded on the window increased by 94.5 percent to $236.99 million. As a result, the difference in rates between the parallel market and NAFEM fell to N1.95 per dollar from N3.88 on Monday.
