The Naira on Friday appreciated to N1,245 per dollar in the parallel market, from N1,250 per dollar on Thursday.
The naira also appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,251.05 per dollar.
NAFEM’s implied exchange rate on Thursday was N1,251.05 per dollar as against N1,255.07 at the beginning of the week indicating an appreciation in naira value by N4.02, according to FMDQ data.
The market recorded an intraday high of N1,281 per dollar and an intraday low of N1,220 per dollar resulting in a N61 margin.
The dollar volume traded on the market increased by 78.6 percent to $248.27 million, compared with $138.99 million in Thursday’s trade.
Furthermore, the gap between the parallel market and NAFEM rates widened to N6.05 per dollar from N5.07 per dollar on Thursday.
