Yesterday, the Naira weakened in the parallel market, dropping to N1,520 per dollar from N1,515 per dollar on Tuesday.
Similarly, the Naira fell to N1,512.61 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to FMDQ data, the indicative exchange rate for NAFEM decreased to N1,512.61 per dollar from N1,509.45 per dollar on Tuesday, representing a N3.16 drop.
The dollar trading volume in the market plummeted by 98.4 percent, down to $114.91 million from $213.31 million traded on Tuesday.
As a result, the gap between the parallel market and NAFEM rates expanded to N7.39 per dollar from N5.55 per dollar on Tuesday.
