The Naira on Thursday depreciated in the parallel market, dropping to N1,535 per dollar from N1,520 the previous day.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also weakened, reaching N1,520.24 per dollar.
According to FMDQ data, the indicative exchange rate for NAFEM fell from N1,512.61 per dollar on Wednesday to N1,520.24 per dollar, marking a depreciation of N7.63 for the Naira.
The market’s dollar trading volume increased by 51 percent, rising to $173.51 million from the $114.91 million traded on Wednesday.
As a result, the disparity between the parallel market and NAFEM rates widened to N14.76 per dollar from N7.39 per dollar on Wednesday