The naira saw a depreciation on Friday, sliding to N1,735 per dollar in the parallel market from its previous rate of N1,730 per dollar on Thursday.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira appreciated, reaching N1,666.72 per dollar.
Data from the Financial Market Dealers Quotations (FMDQ) platform revealed that NAFEM’s indicative exchange rate had fallen to N1,666.72 per dollar from N1,675.49 on Thursday, marking a gain of N8.77 for the naira.
Meanwhile, dollar trading volume in the official market experienced a sharp decline, with turnover dropping by 43.4% to $94.20 million, down from $166.61 million on Thursday.
Consequently, the exchange rate margin between the parallel market and NAFEM broadened to N68.28 per dollar, up from N54.51 per dollar the day before.
