The Naira depreciated yesterday to N1,635 per dollar in the parallel market, down from N1,625 per dollar last weekend.
Conversely, in the Nigerian Autonomous Foreign Exchange Market, NAFEM, the Naira appreciated, closing at N1,585.77 per dollar, a notable improvement from the previous weekend’s rate of N1,598.56 per dollar, reflecting a gain of N12.79.
Data from FMDQ revealed that the turnover in NAFEM dropped by 58.8 percent, with $71.18 million traded yesterday, compared to $172.8 million last Friday.
As a result, the gap between the parallel market rate and the NAFEM rate widened to N49.23 per dollar, up from N26.44 per dollar last weekend.
(allnews.ng)
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