Yesterday, the Naira gained value, rising to N1,490 per dollar in the parallel market, up from N1,502 per dollar on Tuesday. Similarly, the Naira appreciated to N1,499.8 per dollar in the Nigerian Foreign Exchange Market (NFEM).
According to data from FMDQ, the indicative exchange rate for the Naira decreased to N1,499.8 per dollar from N1,501 per dollar on Tuesday, showing a 20 kobo increase. As a result, the gap between the parallel market rate and the NFEM rate expanded to N9.8 per dollar, compared to the 50 kobo difference the previous day.
