Naira appreciates to N1,585/$ in parallel market
The Naira on Friday appreciated to N1, 585 per dollar in the parallel market from N1,590 per dollar on Thursday.
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Similarly, the Naira yesterday appreciated to N1,574.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,574.2 per dollar from N1,593.62 per dollar on Thursday, indicating N19.42 appreciations for the naira.
The volume of dollars traded in the market increased by 127.5 percent to $323.11 million from $141.99 million traded on Thursday.
Consequently, the margin between the parallel market and NAFEM rate widened to N10.8 per dollar from N3.52 per dollar on Thursday.
