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On Friday, the Naira experienced a depreciation in both the parallel market and the Nigerian Autonomous Foreign Exchange Market (NAFEM).
In the parallel market, the Naira fell to N1,590 per dollar from N1,585 per dollar the previous day.
Similarly, in NAFEM, the exchange rate depreciated to N1,579.89 per dollar from N1,564.4 per dollar, marking a N15.49 drop in value.
The volume of dollars traded in NAFEM also saw a significant decrease of 22.7%, with $115.23 million traded compared to $149.24 million on Thursday.
This fluctuation led to a narrowing of the margin between the parallel market and NAFEM rates, from N20.52 to N10.11 per dollar.
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