Yesterday, the Naira fell to N1,555 per dollar in the parallel market, down from N1,545 per dollar last Friday. Similarly, the Naira fell to N1,577.29 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,577.29 per dollar from N1,563.8 per dollar last week Friday, indicating a naira depreciation of N13.49 percent.
The dollar volume (turnover) traded on the window increased by 21.3 percent to $153.53 million, up from $126.5 million on Friday.
As a result, the difference between parallel market and NAFEM rates has narrowed to N18.8 per dollar, down from N18.8 per dollar last Friday.
