The Naira’s value saw an appreciation yesterday, rising to N1,495 per dollar in the parallel market from N1,510 per dollar on Wednesday.
Likewise, the Naira experienced an appreciation, reaching N1,481.49 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
According to FMDQ data, the indicative exchange rate for NAFEM dropped to N1,481.49 per dollar from N1,488.6 per dollar on Wednesday, reflecting an N7.11 appreciation for the Naira.
Furthermore, the volume of dollars traded on the window increased by 3.83 percent to $213.31 million from $205.43 million traded on Wednesday.
As a result, the margin between the parallel market and NAFEM rates decreased to N13.51 per dollar from N21.4 per dollar on Wednesday.