The value of the Naira fell on Wednesday, December 13, from N1,220 to N1,260 per dollar in the parallel market on Tuesday.
Additionally, according to official FMDQ data, it opened at N871.12/$1 but fell to N904.56/$1 by Wednesday’s end of business.
As of Wednesday’s business closure, the amount reflects a 4.38 percent devaluation. It closed at N904.56/$1.
Thus, from N354.97 per dollar on Tuesday to N355.35 per dollar yesterday, the difference in the official and parallel market currency rates grew.
From Tuesday’s $99.09 million trading volume to today’s $120.89 million volume, there was a 22% rise in dollars exchanged on NAFEM.
