THE Naira strengthened to ₦1,060 per dollar in the parallel market yesterday, up from ₦1,105 per dollar the day before.
On the other hand, the Naira reportedly weakened in the Nigerian Foreign Exchange Market (NAFEM) to ₦1,154.08 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM increased to ₦1,154.08 per dollar from ₦1,072.74 per dollar it traded on Wednesday, resulting in a depreciation of ₦81.34 for the naira.
As a result, the gap between the parallel market and NAFEM rates widened to ₦94.08 per dollar from ₦32.26 per dollar on Wednesday.
