In the parallel market yesterday, the value of the Naira dropped, from Tuesday’s N1,470 per dollar to N1,495 per dollar.
On the other hand, the Naira strengthened to N1,462.59 per dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM).
UPDATE: Naira Further Crashes as Dollar Sales to BDCs Fluctuate
According to data from FMDQ, the Naira appreciated by N3.09 on Tuesday, when the indicative exchange rate for NAFEM dropped to N1,462.59 per dollar from N1,465.68 per dollar.
The market and NAFEM rates diverged as a result, with the difference widening to N33.59 per dollar from N4.32 on Tuesday.
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