In the parallel market yesterday, the value of the Naira increased from N1,480 per dollar last weekend to N1,475 per dollar.
In the same way, the value of the Naira increased on the Nigerian Autonomous Foreign Exchange Market, or NAFEM, to N1,468.99 per dollar.
The indicative exchange rate for NAFEM dropped to N1,468.99 per dollar from N1,497.33 per dollar last Friday, according to data from FMDQ, showing a N28.34 appreciation for the naira.
As a result, last weekend’s difference between the parallel market and NAFEM rates dropped to N6.01 per dollar from N10.33 per dollar.