In the parallel market, the value of the Naira fell Wednesday, from N1,525 per dollar on Tuesday to N1,530 per dollar.
However, on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, yesterday, the value of the Naira increased to N1,459.02 per dollar.
The indicative exchange rate for NAFEM dropped to N1,459.02 per dollar from N1,520.4 per dollar on Tuesday, according to data from FMDQ, indicating an N61.38 appreciation for the naira.
As a result, the difference in rates between the NAFEM and parallel market grew from N5.4 to N70.98 per dollar on Tuesday.