Naira appreciates to N1,530/$ in parallel market
The Naira appreciated in the parallel market, rising to N1,530 per dollar from N1,535 per dollar on Thursday.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira strengthened to N1,509.67 per dollar.
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Data from FMDQ indicated that the indicative exchange rate for NAFEM improved from N1,520.24 per dollar to N1,509.67 per dollar, marking a N10.57 appreciation for the Naira.
However, the volume of dollars traded in the market dropped by 32.6 percent, with $116.88 million traded on Friday compared to $173.51 million on Thursday.
As a result, the margin between the parallel market and NAFEM rates widened to N20.33 per dollar from N14.76 per dollar on Thursday.
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