The Naira gained value on the parallel market, going from N1,725 per dollar last weekend to N1,715 per dollar.
However, on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira dropped to N1,603.16 per dollar yesterday.
According to data from FMDQ, the naira depreciated by N2.38 last Friday, as the indicative exchange rate for NAFEM dropped from N1,600.78 to N1,603.16 per dollar.
In the official market, the amount of dollars traded (turnover) increased from $350.72 million last weekend to $359.22 million, a 2.4% increase.
As a result, on Friday of last week, the difference between the NAFEM rate and the parallel market dropped from N124.22 to N111.84 per dollar.
