The Naira depreciated to N1,660 per dollar in the parallel market, down from N1,645 last week Friday. However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated slightly to N1,580.46 per dollar, reflecting a N12.86 gain from last weekend’s rate of N1,593.32. The dollar trading volume in NAFEM decreased by 22%, from $254.17 million to $197.37 million. As a result, the margin between the parallel market and NAFEM rates widened to N79.54 per dollar from N51.68.
