In the parallel market yesterday, the value of the Naira increased from N1,620 per dollar on Wednesday to N1,615 per dollar.
The indicative NAFEM exchange rate dropped to N1,593.93 per dollar from N1,606.56 per dollar on Wednesday, according to data from FMDQ, indicating a N12.66 appreciation for the naira. In NAFEM, the amount of money exchanged (turnover) decreased by 3.3% to $155.52 million from $160.94 million on Wednesday.
As a result, on Wednesday, the difference between the NAFEM rate and the parallel market was N21.07 per dollar, up from N13.41.
