Naira yesterday depreciated to N1,710 per dollar in the parallel market from N1,690 per dollar on Wednesday.
Similarly, in the Nigerian Autonomous Foreign Exchange Market, NAFEM, Naira depreciated to #1,660.49 per dollar.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,660.49 per dollar from N1,659.69 per dollar on Wednesday , indicating 80 kobo depreciation for the naira.
The volume of dollars traded (turnover) in the official market grew by 86.4 percent to $330.18 million from $177.1 million traded on Wednesday.
Consequently, the margin between the parallel market and NAFEM rate widened to N49.51 per dollar from N30.31 per dollar on Wednesday.
Culled from Our Heritage