By Bayero Ade
The Naira strengthened to N1,725 per dollar in the parallel market on Tuesday, up from N1,730 per dollar the previous day.
In contrast, the Naira remained steady at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
FMDQ data revealed that the indicative exchange rate for the Naira has remained stable since Monday.
Meanwhile, the volume of dollars traded fell by 18.2%, dropping to $207.86 million from $254.1 million on Monday. This led to a reduction in the margin between the parallel market and NAFEM rates, which narrowed to N52.31 per dollar from N57.31 per dollar the day before.
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