Olayomi Koiki
Nigerian Naira on Friday depreciated to ₦1,750 per US Dollar in the parallel market from ₦1,745 per Dollar it traded on Thursday.
But the naira appreciated to ₦1,652.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, (NAFEM) from ₦1,658.67 per dollar it traded on Thursday, according to data from FMDQ.
The market recorded an intraday high of ₦1,703 per dollar and an intraday low of ₦1,640 per dollar
The volume of dollars traded (turnover) grew by 48.5 percent to $243.05 million from $163.66 million traded on Thursday.
Consequently, the margin between the parallel market and NAFEM rate widened to N97.38 per dollar from N86.33 per dollar on Thursday.