In the parallel market, the value of the Naira increased from N1,730 to N1,725 per dollar on Monday to N1,725 yesterday.
On the Nigerian Autonomous Foreign Exchange Market, or NAFEM, the value of the Naira remained steady at N1,672.69 to the US dollar.
According to FMDQ data, the naira’s indicative exchange rate has been steady since Monday.
Turnover, or the amount of money moved, dropped 18.2 percent to $207.86 million from $254.1 million on Monday. As a result, the difference between the NAFEM rate and the parallel market dropped from N57.31 to N52.31 per dollar on Monday.
