In the parallel market, the value of the Naira increased from N1,735 to N1,730 per dollar on Monday to N1,730 yesterday.
Similarly, in the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira increased to N1,678.93 per dollar.
According to data from FMDQ, the naira appreciated by N11.44, with the indicative exchange rate for NAFEM dropping from N1,690.37 to N1,678.93 per dollar on Monday.
As a result, the difference between the NAFEM rate and the parallel market grew from N44.63 to N51.07 per dollar on Monday.
