The Naira has depreciated to N1,140 per dollar in the parallel market, from N1,060 per dollar on Thursday.
Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,169.99 per dollar.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,169.99 per dollar from N1,154.98 per dollar on Thursday, indicating N15.01 depreciation for the naira.
The market recorded an intraday high of N1,236 per dollar and an intraday low of N1,021 per dollar resulting in a margin of N215.
The volume of dollars traded on the window declined by 53.2 percent to $86.86 million from N185.62 million on Thursday.
Consequently, the margin between the parallel market and NAFEM rates narrowed to N29.99 per dollar from N94.08 per dollar on Thursday.
Receive Alerts On:
Facebook: METRODAILYNG Twitter: @METRODAILYNG
REACH THE RIGHT PEOPLE AT THE RIGHT TIME WITH METRO DAILY NIGERIA. TRY AND ADVERTISE ANY KIND OF YOUR BUSINESS TO USERS ONLINE TODAY. KINDLY CONTACT US FOR YOUR ADVERTS OR PUBLICATIONS @ METRODAILYNG@GMAIL.COM or 08077778839. OR VISIT US AT OUR OFFICE AT
PLOT 273 REINSURANCE BUILDING
HERBERT MACAULAY WAY
2ND FLOOR, C WING, CENTRAL BUSINESS DISTRICT (CBD)
ABUJA – FCT.