Naira in the parallel market up to N1,470/$

In the parallel market, the value of the Naira increased from N1,480 per dollar on Thursday to N1,470 per dollar on Friday.

However, the Nigerian Foreign Exchange Market (NAFEM) saw a depreciation of the naira on Friday, with a value of N1,431.49 per dollar.

The indicative exchange rate for NAFEM increased to N1,431.49 per dollar from N1,382.35 per dollar on Thursday, according to data from FMDQ, indicating an N49.14 depreciation of the naira.
As a result, on Thursday, the difference between the NAFEM and parallel market rate dropped from N97.65 to N38.51 per dollar.