The parallel market saw the Naira strengthen yesterday, from N1,270 per dollar on Monday to N1,260 per dollar.
In a same vein, the Naira strengthened to N1,262.85 per dollar in the NAFEM.
The indicated exchange rate for NAFEM dropped to N1,262.85 per dollar from N1,278.58 per dollar on Monday, according to data from FMDQ, suggesting a N15.73 gain for the naira.
As a result, the difference between the NAFEM and parallel market rate dropped from N8.58 to N2.85 per dollar on Monday. [CONTINUE READING HERE]
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