On Tuesday, April 23, the Naira experienced a decline in the Nigerian Foreign Exchange Market (NAFEM), dropping to N1,300.15 per dollar.
This figure represents a N45.15 difference compared to the parallel market rate.
Data sourced from FMDQ revealed that the indicative exchange rate for NAFEM surged from N1,234.49 per dollar recorded last week Friday, marking a depreciation of N65.66 for the Naira.
Similarly, in the parallel market, the Naira depreciated to N1,255 per dollar, down from N1,250 per dollar on Monday, April 22. Consequently, the gap between the parallel market and NAFEM rates widened to N45.15 per dollar from N15.51 per dollar the previous day.
